Beyoncé's partnership with Adidas has reportedly ended amid reports that sales of Bey’s Ivy Park tumbled by more than 50%. However, she just announced her new partnership and haute couture collection with Balmain. Details inside…
Beyoncé and Adidas are breaking up!
According to The Hollywood Reporter, the Grammy-winning artist and the German lifestyle brand have mutually agreed to part ways due to major creative differences. As you may know, in 2018, Mrs. Carter entered into a creative partnership with Adidas where she relaunched her Ivy Park activewear line and developed new footwear and apparel for the brand.
However, it seems like the Grammy Award winner is looking to reclaim her brand, chart her own path, and maintain creative freedom.
In 2016, Beyoncé debuted Ivy Park, which was a joint venture with Sir Philip Green of Topshop. The 50-50 venture with Topshop ended in 2018, and Beyoncé gained full ownership of Ivy Park. She's been collaborating with Adidas ever since, but recent reports suggest that this partnership has not been as successful as anticipated.
In fact, the partnership has produced weak sales of her Ivy Park clothing brand, which has left a roughly $200 million hole in the company's annual projections, according to sources. Sales of Ivy Park tumbled by more than 50% to about $40 million in 2022—coming in below internal Adidas projections for $250 million in sales that year. The documents reviewed by The Wall Street Journal show that Ivy Park has been losing money for Adidas, and Beyoncé gets about $20 million in annual compensation.
When news about Ivy Park's drastic sale dips broke, Adidas said the Ivy Park partnership was "strong and successful" and declined to discuss its financial performance.
Despite this, the "CUFF IT" singer has been previewing her latest Adidas x Ivy Park collaboration, which she unvieled in Dubai last month.
It will be interesting to see what the future holds for Beyoncé and Ivy Park as she looks to chart her own path and maintain creative freedom.
On the fashion magazine front...
The "Alien Superstar" has once again stunned the world with the announcement of her latest collaboration with luxury fashion house Balmain. This time, the multi-talented artist and business mogul has teamed up with the prestigious brand to create the first-ever wearable album, and who better to embody the bold and dynamic aesthetic of the iconic fashion house than Queen Bey herself?
Beyoncé x Balmain
RENAISSANCE COUTURE16 looks corresponding to each of the 16 songs on the hit album, RENAISSANCE pic.twitter.com/vwMXQmc10E
— RENAISSANCE Updates (@B7Album) March 24, 2023
The collection, which was co-created with Olivier Rousteing, is entitled "Renaissance Couture," and it draws inspiration from Bey's recent international sensation, RENAISSANCE.
"Thank you @olivier_rousteing and @balmain for bringing RENAISSANCE to life in couture," Bey wrote on Instagram. "Designing alongside you was freeing—thank you for allowing me to celebrate the human form, to take artistic risks, to push boundaries and to freely express myself. To the @voguefrance team, thank you for trusting in our vision and sharing it with the world"
Each of the 16 designs in the collection is named after a corresponding track on the hit album, making for a truly cohesive and immersive fashion experience. From the powerful and sultry "Black Butterfly" to the anthemic and empowering "I Am," each piece in the collection captures the essence of Beyoncé's artistry and musical genius.
Beyoncé x Balmain
RENAISSANCE COUTURE Collection pic.twitter.com/Hr0uywYksG
— RENAISSANCE Updates (@B7Album) March 24, 2023
Congrats! Are you here for the first wearable album?
Bey will launch her Renaissance World Tour in May in Stockholm and will have shows in several cities throughout Europe and North America. This incredible trek will take her across Europe, with must-see stops in Cardiff, Edinburgh, Sunderland, Paris, London, Marseille, Amsterdam, Warsaw and other exciting cities.
Then, Bey returns home to North America, hitting up Toronto, Vancouver, Atlanta, Las Vegas, Los Angeles, Boston, Charlotte, Detroit, Miami, Minneapolis, Nashville, Philadelphia, San Francisco, the New York City metro area, and her beloved hometown of Houston before closing out the tour in New Orleans.
Photos: TKKurikawa/Depositphotos/Tinseltown/Shutterstock
source: theybf
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