Ivy Park Goodbye: Beyonce Cut Ties With Adidas Following Huge Business Loss With Kanye West [REPORT]

Months after Adidas suffered a major blowback on the sacking of Kanye West's Yeezy deal, it looks like Beyonce has also found herself in the same spot with the apparel giant.

Ivy Park, the athleisure clothing line she owned through Parkwood Entertainment, has reportedly parted ways with Adidas via a mutual agreement between the two parties.

Ivy Park Leaves Adidas

According to a The Hollywood Reporter source, Beyonce and Adidas have mutually agreed to part ways already.

The source has not revealed much, not even revealing what caused the breakup to transpire in the first place.

Earlier this year, Beyonce even previewed the latest addition to the clothing line - Park Trail - which was the latest collaboration between Ivy park and Adidas. The previews took place in Dubai, reportedly a day before her famous private concert.

Ivy Park started in 2016, but it was a joint undertaking by Sir Philip Green of Top Shop. Back then, it was a 50-50 deal between the clothing line and Beyonce. However, that ended in 2018, and since then Beyonce had full ownership of the athleisure company.

In that same year, she collaborated with Adidas on a massive creative project - she relaunched the line and even introduced new products for the brand.

The Hollywood Reporter noted that there have been "major creative differences" between the two companies. Since then the music legend had been "excitedly looking" to reclaim the brand and carve to ensure complete creative freedom.

As of this writing, the cause for the Ivy Park and Adidas breakup has yet to be revealed.

Kanye West, Adidas Breakup

After a flurry of anti-semitic posts on social media and televised interview outbursts, Kanye West, the pioneer of Yeezy, found himself at the receiving end of intense hate and backlash from people on the internet.

In an interview, West, unfazed and boastful, was confident in saying that no matter what he says in interviews, even how controversial it is - he would not lose the deal with Adidas - he said this as several brands have dropped their collaborations with him.

Days after, Adidas severed its ties with West unapologetically.

Since then, the fashion giant reported that they have suffered $1.27 billion in losses, with a "corresponding negative functional profit impact of around $532 million from their inability to sell the Yeezy stock that Ye left.

Tags

Adidas, Beyonce, Kanye West