*Beyoncé and Adidas have mutually agreed to end their partnership.
According to The Hollywood Reporter, the decision follows “major creative differences” between the footwear giant and the global superstar’s Ivy Park brand.
Beyoncé debuted Ivy Park in 2016, as a joint venture with Philip Green of Topshop. She teamed with Adidas in 2019 to relaunch the brand with new activewear and footwear. At the time, the Ivy Park and Adidas collaboration was described as “a partnership of a lifetime” by Adidas. But after Ivy Park generated $40 million in sales, compared to original expectations of $250 million, Adidas is walking away from the underperforming label.
We reported previously that Beyoncé’s latest activewear from Ivy Park , was released this year, is reportedly losing millions due to weak demand.
READ MORE: Problem! Beyoncé Fans Are Not Buying Her New Adidas Collection
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.
“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 contract between Adidas and the songstress is set to end after 2023, according to reports.
Beyoncé reportedly plans to take sole control of the Ivy Park line following the split from Adidas.
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