Beyoncé’s athleisure brand Ivy Park in partnership with Adidas has “produced weak sales” according to a Wall Street Journal report, the outlet revealed that sales have plummeted more than 50%.Ivy Park did roughly $40 million in sales in 2022, down from $93 million in 2021. In 2023, Adidas projects the line will do $63 million in sales, compared to an earlier projection of the year of $335 million.
The contract between Ivy Park and Adidas is set to end after 2023, and Adidas executives have discussed revamping the line or ending the deal, sources told the Journal. WSJ added that while Adidas feels the “partnership is strong and successful,” they declined to comment on its financial performance. The statement reads, “We continue to be inspired by our collective vision and are proud of the work we have created together.”
While Ivy Park hasn’t achieved the same widespread obsession that Yeezy has, it’s still made a cultural impact. If the partnership gets renewed there is an opportunity to learn and leverage from past artist brand deals such as Cardi B’s Reebok partnership and Rihanna’s Fenty brand.
Ivy Park first debuted in 2016 in partnership with Topshop owner, Philip Green. Bey bought full ownership of the clothing line in 2018. The following year, she announced the deal with Adidas, calling it the “partnership of a lifetime.”
PARK TRAIL the newest collection features Ice Spice and Offset. The ‘Renaissance’ singer proclaimed that this is her “favorite drop to-date” on Instagram while wearing select pieces from the collection. The new IVY PARK drop was unveiled in late January following a preview event in Dubai.
Through sales of the clothing brand might be down her upcoming world tour could be an opportunity to sell merchandise with a pop-up shop stationed at stadiums.
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