To the break between Kanye West and Adidas due to the scandalous sayings of the American rapper, comes another. Beyoncé does not continue her relationship with the brand of the three stripes.
According to The Hollywood Reporter, financial reports forced the decision.
Ivy Park, the company promoted by the singer to design her sports shoes and clothing, she was a partner of Adidas since 2018.
Although at first the numbers were positive, with the passage of time everything fell apart.
The sinking of Beyoncé, Ivy Park and Adidas
as you remember The Wall Street JournalPark Trail, an outdoor-inspired capsule of apparel, footwear and accessories, had a staggered release in January. But in February, Adidas reported that revenue for the Ivy Park line fell more than 50% in 2022.
Beyoncé’s company projections were 250 million dollars: the final figures reached just 40 million dollars.
Summarizes Sneaker News: “Adidas was arguably on top of the world when it announced that Ms. Knowles had joined the three stripes brand. The next five years have seen dramatic changes in both the people behind the brand and consumer trends.”
“The promise of a partnership with Adidas was likely an industry-leading supply chain, an established retail presence and a team of brilliant designers, but sources shared that ‘major creative differences’ plagued the relationship.”
Kanye West’s traumatic goodbye
At least Adidas’ breakup with Beyoncé wasn’t as traumatic as Kanye West’s breakup with the company. Due to the rapper’s racist sayings, the brand with the three stripes decided to dissolve the contract.
However, as explained previously, the equivalent of 500 million dollars will be sold coming from the remaining Yeezy.
Initially, according to Hypebeast, there were reports that increased the figure of losses up to 1.3 billion dollars.
Other companies, like Balenciaga, CAA and GOOD Music, They also broke their relationship with Kanye West.