It's An Ivy Park Wrap: Beyoncé & Adidas Mutually Agree To Part Ways

Beyoncé's partnership with Adidas is officially over.

Source: Mason Poole/Parkwood Media / Getty

The superstar songstress and the brand have mutually agreed to part ways so she can "reclaim her brand, chart her own path and maintain creative freedom", reports The Hollywood Reporter.

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A source close to the situation told the outlet that despite Adidas and Bey being in a creative partnership for her Ivy Park activewear, footwear, and apparel line since 2018, they've had "major creative differences."

In February, The Wall Street Journal reported that Ivy Park was suffering from "weak sales" and missed internal sales projections by over $200 million last year. They added however that the leader of the Bey Hive is still earning $20 million a year from the deal.

Source: Stuart C. Wilson / Getty

Reps for Adidas denied the WSJ report and called the Ivy Park partnership "strong and successful" and declined to discuss its financial performance. "

"We continue to be inspired by our collective vision and are proud of the work we have created together," the company said.

Beyoncé's spokeswoman didn't respond to requests for comment.

Source: Stuart C. Wilson / Getty

The outlet also noted that the contract between Bey and the German sneaker giant was set to end after 2023, and Adidas executives "discussed either ending or revamping the arrangement."

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Now it looks like things have come to a close ahead of schedule.

What do YOU think about Beyoncé parting ways with Adidas?

 

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If Beyoncé decides to continue her Ivy Park BeyHive blessings, where do you think the brand will go next?



via: https://bossip.com/2279484/beyonce-ivy-park-adidas-ending/