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Adidas has reportedly terminated its partnership with Beyoncé as its recent financial reports shared alarming numbers regarding its IVY PARK deal.
There are speculations that the American icon could strike up a deal with Puma, especially when considering her husband Jay-Z has been serving as its creative director for basketball.
Adidas signed Beyoncé to an ambassador partnership in 2018, which turned into a revival of the IVY PARK activewear brand.
The inaugural IVY PARK x Adidas collection saw fervent fanfare and energized the Adidas Originals category, but subsequent offerings haven’t had similar success.
“PARK TRAIL”– an apparel, footwear, and accessories capsule inspired by the great outdoors – saw a staggered launch in January. A month later, the Three Stripes reported that revenue from the IVY PARK line fell by more than 50% in 2022, according to the Wall Street Journal.
Company projections saw Beyoncé’s imprint pulling in $250 million last year, but final sales numbers landed at $40 million.
The following five years have seen drastic changes to both the person behind the brand and consumer trends.
The “Renaissance World Tour” artist will reportedly reclaim the IVY PARK brand under her terms.
