
By Zuko Komisa
Beyonce’s ‘Ivy Park’ has reportedly parted ways with Adidas.
The German lifestyle brand and the Renaissance star’s five-year relationship is reportedly being amicably ended, according to The Hollywood Reporter.
The publication reports that Adidas has reportedly begun the process of severing its business relationship with megastar Beyonce.
When compared to real revenue in 2022, Ivy Park sales projections had fallen by 84%, according to documents obtained by the Wall Street Journal in February 2023.
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Beyoncé and Adidas first collaborated in 2018 when they unveiled an activewear collection, but IVY PARK was actually established in 2016 as a joint endeavour with Sir Philip Green of Topshop.
Despite the fact that Beyoncé acquired complete ownership of IVY PARK in 2018, the 50/50 partnership with Topshop came to an end.
According to rumours, when the current agreement with Ivy Park ends at the end of 2023, Adidas’ new management, led by CEO Bjrn Gulden, will probably sever ties.
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