Beyoncé is the greatest of all time. Period, end of story. There will be no debate because there is no debate. Especially after winning her 28th Grammy in February of 2023, making history and breaking records as she became the most award (and nominated) artist of all time.
But outside of music, she is also a mogul in her own right. Remember Tidal? Yeah, you do, because you could only stream Lemonade on it. Well, Beyoncé owned it. And that's just one of her business ventures.
Of course, we all know about her popular partnership with Adidas, Ivy Park. However, on March 23, 2023, The Hollywood Reporter wrote that the partnership was coming to an end. Why? Let's find out!
Why Is Beyoncé’s partnership with Adidas, Ivy Park, ending?
As stated above, The Hollywood Reporter got the exclusive that Beyoncé and Adidas would be breaking off their partnership stating that, "A source close to the situation tells The Hollywood Reporter that Beyoncé and Adidas, "have mutually agreed to part ways."
THR further explained that, "there have apparently been major creative differences between Ivy Park and Adidas, and Beyoncé is excitedly looking to reclaim her brand, chart her own path and maintain creative freedom."
It's important to note that a little over a month before this announcement, The Wall Street Journal reported that sales for the Ivy Park line were down by, "more than 50%... coming in below internal Adidas projections for $250 million in sales that year," and actually losing the company money.
At the time, sources close to the situation told the WSJ that Beyoncé, "disagreed over how to label and market the products, with Adidas pushing for more of its own branding," adding that, "Adidas executives have discussed either ending or revamping the arrangement."
Ivy Park was originally founded in 2016 and started as a joint partnership with Top Shop and previous owner Sir Phillip Green. Beyoncé gained full control of Ivy Park a couple of years later, breaking ties after allegations of sexual misconduct came out about Sir Philip.
Soon after, Beyoncé and Adidas made their own partnership, with Ivy Park expanding the line, creating shoes and even more apparel.
Just this past January, Ivy Park previewed their brand new line, Park Trail, in Dubai alongside her private concert. The line is sadly already sold out.
Does this mean Ivy Park is no more?
There has been no comment from either Beyoncé or Adidas on the separation, or word on what will happen to Ivy Park now, but we remain hopeful. Back in December 2019, Beyoncé spoke with Elle about the activewear line:
"I love experimenting with fashion, mixing high and low, sportswear with couture, even masculine and feminine. This new line is fun and lends itself to creativity, the ultimate power...I took a chance on myself when I bought my company back. We all have the confidence in us to take chances and bet on ourselves..."
We sure do hope Beyoncé will continue to bet on Ivy Park. But we don't expect any update in the short-term interim, as she has a world tour to prepare for. See you there, Beehive.