Beyoncé and adidas Have Agreed to Terminate Their Partnership
Beyoncé and adidas have mutually agreed to end their IVY PARK partnership, which initially launched in 2018.
As reported by The Hollywood Reporter, there were "major creative differences" between the two parties, which led to the agreement. According to the outlet, the Grammy Award-winning musician is looking forward to bringing back creative freedom to her label.
Earlier this year in February, reports claimed that the IVY PARK x adidas partnership was actually causing the German sportswear giant to lose money. Documents stated that "roughly half of the merchandise that was produced went unsold" and that IVY PARK was "losing money for adidas."
Beyoncé's IVY PARK label was birthed in 2016 as a joint venture with Sir Philip Green of Topshop, while the musician later gained full ownership after the 50-50 deal ended in 2018.
IVY PARK's latest collection "PARK TRAIL" was launched in February this year after being previewed at a private concert in Dubai, marking Queen Bey's first live show in four years.