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Beyoncé and adidas Are Ending Their Partnership
Beyoncé and adidas are parting ways.
The superstar singer and German sportswear giant have mutually agreed to end their partnership after four years, according to The Hollywood Reporter.
Beyoncé announced her creative partnership with adidas back in 2019 where she relaunched her Ivy Park brand and developed footwear and apparel products “focused on empowering and enabling the next generation of athletes, creators, and leaders.”
“This is the partnership of a lifetime for me,” Beyoncé said at the time. “adidas has had tremendous success in pushing creative boundaries. We share a philosophy that puts creativity, growth and social responsibility at the forefront of business. I look forward to relaunching and expanding Ivy Park on a truly global scale with a proven, dynamic leader.”
The split follows reports of “major creative differences” between Ivy Park and adidas. “Beyoncé is excitedly looking to reclaim her brand, chart her own path and maintain creative freedom,” writes THR.
The Wall Street Journal recently reported that sales of Ivy Park were down by more than 50% to $40 million in 2022 after being projected to do $250 million in sales that year. Beyoncé’s contract, which earns her $20 million in annual compensation, was set to expire at the end of 2023.
In February, Beyoncé launched her latest adidas x Ivy Park collaborative collection Park Trail with a campaign starring Ice Spice and Offset and his son, Kodi.
The Beyoncé breakup comes after adidas terminated its partnership with Kanye West in October following the rapper’s anti-Semitic comments. The company announced that it would take an operating loss of $736 million this year as it writes off the Yeezy line of clothing and sneakers.
Beyoncé is gearing up to hit the road on her Renaissance World Tour, which kicks off in May in Europe before making its way to North America.