Adidas Reportedly Lost From $200M Beyoncé’s Ivy Park
Beyoncé’s latest Ivy Park collection with Adidas is set drop this week and although anticipation appears high, a new report from The Wall Street Journal suggests that the outlook for the singer’s clothing line may not be so rosy.
According to documents, the Ivy Park line is falling well short of Adidas’ initial projections. In 2022, the company expected the collection to bring in $250 million in sales banking on the hype for all things Beyoncé; it reportedly only managed $40 million. That was down 50% from the year before. Since Beyoncé gets $20 million a year for licensing her name and likeness to the brand, the Journal estimates Adidas is actually losing money.
The 2019 contract between Adidas and Beyoncé is set to expire after this year, and the Journal‘s sources say the brand’s executives are looking at whether or not they should end the partnership or try something new. Among possible solutions apparently being discussed are how much more or less Adidas branding Ivy Park should bear.
The latest collection is set to release online tomorrow (Thursday, February 9) and in stores the day after; the promotional campaign features breakout rapper Ice Spice and Offset.
Adidas has had a rough road regarding its artist partnerships of late; in 2022, the German athletic wear company cut ties with Kanye West in the wake of his antisemitic press tour, although the company still intends to release the Yeezy Boost designs without his name attached.