Grammy-award winning singer Beyoncé and sportswear company Adidas are ending their roughly four-year-old clothing and shoe line partnership early, according to reports.
Ivy Park went on sale at Adidas stores in January 2020, with items selling between $25 and $250. Beyoncé maintains exclusive rights and control over the brand now that the parties have split, according to the Hollywood Reporter. with the rapper formerly known as Kanye West over his antisemitic remarks. Adidas said last month it expects to lose $1.3 billion in sales this year because of the split.
The Beyoncé breakup won't impact Adidas' bottom line to that same degree"because Ivy Park has never been a material revenue driver," said David Schwartz, an analyst for Morningstar Research. "The main takeaway from this situation is that it highlights Adidas' inability to find a celebrity partnership that is anything close to the relevance of Yeezy," Swartz told CBS MoneyWatch on Tuesday."At this point, it's hard to see how Adidas can produce anything to replace Yeezy in the celebrity/fashion/collector category."
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