It was perhaps only a matter of time before Adidas and Beyoncé shuttered their Ivy Park collaboration. In February stories of revenue falling 50 percent began circulating, with sales in 2022 thought to be just 40 million dollars, a loss of 200 million dollars for the sporting giant.
When Beyoncé’s pay package is rumoured to be 20 million dollars per year, the partnership is much less successful than previously iterated.
The contract, according to the Wall Street Journal, was set to end in 2023, five years after its launch. Both parties seemed to have amicably agreed to not continue, as was first published by The Hollywood Reporter.
Ivy Park was originally a collaboration between Beyoncé and Topshop under Sir Philip Green. The first collection launched in 2016 to much fanfare, but as the Arcadia group was plagued by sexual harassment and bullying, the singer pulled out from the partnership, retaining the rights to the brand in 2018.
The Hollywood Reported said creative differences were also at play, with Beyoncé looking to ‘reclaim her brand’ and ‘maintain creative freedom.’
According to the Wall Street Journal nearly half of the merchandise failed to sell in five of the last six Ivy Park collection releases.