Beyoncé's Ivy Park line brought in $40 million last year, well below its $250 million projections.
, while declining to discuss Ivy Park’s financials. “We continue to be inspired by our collective vision and are proud of the work we have created together.” Beyoncé’s spokesperson didn’t respond to the newspaper’s requests for comment.
The megastar launched Ivy Park in 2016 with the former Topshop owner Philip Green, before buying full ownership in 2018. The following year, Adidas announced that it would be working with Beyoncé on the brand, and the singer called it the “partnership of a lifetime.” Many Ivy Park products have failed to sell, though. About half of all merchandise produced in five of the past six releases went unsold, according to the documents seen by the And the $40 million made in 2022 is a steep decline from the $93 million the brand brought in the year prior. This year, Adidas is projecting that Ivy Park will reach just $65 million, down from an earlier target of $335 million.
Beyoncé’s contract with Adidas is set to expire after 2023, and in the past, the two parties have disagreed about how to label and market the line, with Adidas wanting more of its own branding visible. Sources toldthat execs at the sneaker company have talked about either revamping the partnership or ending it completely once the deadline comes.
Perhaps Beyoncé’s return to the stage will inspire her fans to stock up on Ivy Park gear. Otherwise, the line might have to undergo a renaissance of its own to win back consumers.
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