Beyoncé and Adidas have mutually agreed to end their partnership, according to The Hollywood Reporter. The Ivy Park brand will be retained by Beyoncé, marking the end of a two-year partnership between the two companies. The move comes after reports emerged in February that the partnership was troubled, with the Ivy Park brand having underperformed under Adidas, resulting in a $200 million loss. When the partnership was first signed in 2019, it was expected that Beyoncé’s name would bring in sales of $250 million, but only around $40 million was achieved.
The Wall Street Journal reported that creative differences between Adidas and Parkwood, Beyoncé’s management company, were also a factor in the split. Fans have also expressed disappointment in the Ivy Park offerings over the past year, prompting Beyoncé to want to reclaim her brand, chart her own path, and maintain creative freedom.
The end of the Ivy Park partnership is the latest in a string of rough patches for Adidas. In October of 2022, the company also ended its partnership with Kanye West after the rapper made a series of antisemitic remarks in several interviews. The company’s CEO told the company early this year that Adidas is projected to lose nearly $1.3 billion in sales of Yeezy merchandise. However, Adidas reached an agreement with West to sell remaining inventory without the Yeezy branding.