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Following news earlier this year that the partnership between Beyonce’s IVY PARK line and adidas was in rocky waters, sources tell The Hollywood Reporter that both parties have mutually agreed to part ways.
One would only assume that with Beyonce’s name attached, adidas could push products out and have them instantly sell out. Showing signs of success early, somewhere along the line, the brand lost momentum. While IVY PARK raked in $93 million in 2021, the brand only generated $40 million in 2022 and missed sales targets by over $200 million. It was also reported that the line cost adidas $10 million to maintain.
Beyond the underwhelming financials, there are reports that Beyonce and adidas disagreed on how to market the IVY Park x adidas line. Beyonce was rarely spotted rocking her own gear, and adidas never launched a significant marketing campaign outside of gifting influencers online some sneakers and apparel.
The news that Beyonce’s IVY PARK and adidas have severed ties does not come as a surprise. The IVY PARK adidas contract was set to expire this year, and with the line’s underperformance, neither side was expected to renew. That said, it is a bit surprising that both Beyonce and adidas ended the contract early.
Moving forward, Beyonce will likely be taking complete creative control of the label, and only time will tell if she decides to partner with another sportswear brand.
With adidas losing yet another collaborator, we’ll have to see what strategies can be employed to revitalize the brand. If the public’s reception to Jerry Lorenzo’s upcoming Fear Of God Athletics x adidas Slide are any indicator, the brand has some serious work to do. Keep it locked to our Twitter and the Sole Retriever mobile app for more updates on the latest happenings in the sneaker and streetwear world.
