Beyonce ending partnership with Adidas — reports
MANILA, Philippines — Award-winning artist Beyonce is reportedly ending her partnership with sports brand Adidas after four years.
A reliable source told The Hollywood Reporter that both Beyonce and Adidas have mutually agreed to end their "partnership of a lifetime," which began in 2018 when the singer further developed her Ivy Park brand. Beyonce also had a creative role in the brand.
The source said that there are "major creative differences between Ivy Park and Adidas," so Beyonce is looking to "refocus" the brand on her own.
Beyonce initially debuted the Ivy Park athletics and streetwear brand in 2016 as a joint venture with Topshop's Philip Green. She parted ways with the brand two years later, giving her full ownership of Ivy Park.
During its launch under Adidas, several celebrities like Kendall Jenner, Reese Witherspoon, Hailey Bieber, Missy Elliott, Cardi B, Angela Bassett and Ciara all received closet-size kits. Reports said these undersold in comparison to the now-controversial Yeezy by Kanye West, another terminated deal.
According to the Wall Street Journal, Ivy Park's 2022 sales were at $40 million (P2.17 billion) — over $50 million (P2.71 billion) less than the year before — and while Adidas would have lost around $10 million (P543 million), Beyonce was still going to receive her annual $20 million (P1.08 billion) salary.
After becoming the most-awarded artist at the Grammys last February, Beyonce is set to embark on her "Renaissance World Tour," beginning in Sweden before going around Europe then to North America.
