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POLITIKOFF

Million dollar deal breaks: Beyoncé and Adidas will no longer be business partners

Politiko 2023-03-24 14:09:41

Million dollar deal breaks: Beyoncé and Adidas will no longer be business

Adidas has a problem. Beyoncé and the sportswear manufacturer have reportedly mutually parted ways, according to the Hollywood Reporter. Page Six reached out to representatives for Beyoncé and Adidas, but did not immediately hear back. News of the alleged split comes nearly two months after sales of the Ivy Park singer's Renaissance clothing line fell 50 percent, bringing in just $40 million in 2022 compared to $93 million in 2021.

At the time, the Wall Street Journal reported that Beyoncé's line was projected to bring in over $250 million in sales last year. However, in five of Ivy Park's last six releases, roughly half of the merchandise that was produced went unsold, the media reported, adding that the clothing and sneaker line was losing money for Adidas. Beyoncé, 41, originally launched Ivy Park with Topshop in 2016. In 2018, the singer bought 100 percent of the brand from British billionaire Philip Green's company after he faced allegations of sexual harassment, bullying and racism.

A year later, the "Drunk in Love" singer teamed up with Adidas to launch a comprehensive unisex line catering to both men and women. The 32-time Grammy winner told Elle magazine in January 2020:

"This new line is fun and lends itself to creativity, ultimate power. I focused on designing a unisex collection of shoes and clothing because I saw so many men at IVY PARK. The way they have embraced the brand is an unexpected gift . I appreciate the beauty of gender-neutral clothing and breaking the so-called fashion rules."

The line featured several styles for adults and children, including leggings, hoodies, dresses, socks, sports bras, and sneakers in sizes ranging from XXXS to XXXXL. Beyoncé unveiled her latest Ivy Park drop, called "Park Trail," in January. The collection featured bright orange, blue and camouflage pieces for kids, men and women. The singer also tapped rapper Ice Spice to appear in the line's campaign. And while her partnership with Adidas may be over, the "Cuff It" singer is gearing up to kick off her much-anticipated "Renaissance" tour in May. After performing overseas, Beyoncé will kick off her North American tour on July 8 in Toronto.

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