*Beyoncé’s latest fashion partnership with Adidas is reportedly losing millions due to weak demand.
It seems Bey fans are more interested in spending hundreds on tickets to her forthcoming world tour but not on her latest activewear from Ivy Park, her clothing line with Adidas.
The unisex brand for adults and kids offers sneakers, leggings, and dresses — which run from XXXS to XXXXL. Past collections have sold out quickly but insiders tell the Wall Street Journal that Adidas and Bey’s team “disagreed over how to label and market the products, with Adidas pushing for more of its own branding.”
Sales of Ivy Park, “tumbled by more than 50% to about $40 million in 2022 —coming in below internal Adidas projections for $250 million in sales that year,” the newspaper writes, citing documents and people familiar with the matter.
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Adidas had projected $250 million in sales for 2022 but Beyoncé’s line has reportedly underperformed.
“In five of the last six Ivy Park releases, roughly half of the merchandise that was produced went unsold, the documents show,” the Wall Street Journal reported, noting that Bey’s line is “losing money for Adidas.”
The documents reportedly show Beyoncé gets about $20 million in annual compensation.
The contract between Adidas and the songstress is set to end after 2023, according to reports.
Adidas said the Ivy Park “partnership is strong and successful” and executives will either revamp the current arrangement with the pop star after the contract expires, or end the partnership altogether.
“We continue to be inspired by our collective vision and are proud of the work we have created together,” the company said.
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