Beyoncé fans are just about willing to consume anything she dishes out. Over the years, Bey’s expanded into different avenues beyond music, such as film, and even clothing. Her brand is basically recession-proof, as we’ve seen with her recently announced Renaissance tour. Fans are shelling out top-dollar to secure tickets for shows, which led Bey to add even more dates to accommodate the demand. It speaks volumes to how strong her grip on the culture is, especially when you look at her other ventures.
In 2019, Beyoncé announced her own Adidas line in collaboration with her athleisure brand, Ivy Park. Adidas described the collab as a “[unity of] two iconic brands, celebrating their heritage while creating uniforms of power.” Adidas evidently banked on Beyoncé’s brand to bring in major revenue. In 2020, analysts indicated that Ivy Park could end up outperforming Kanye’s Yeezy Brand as a top earner for Adidas. Unfortunately, it seems those predictions weren’t entirely accurate as Ivy Park sales reportedly declined drastically in the past year.
Beyoncé’s Ivy Park x Adidas Is $200M In The Hole: WJS
Beyoncé’s clothing line with Adidas has produced weak sales, documents show, leaving a $200 million hole in the company’s annual projections https://t.co/LFkbakDHCR
— The Wall Street Journal (@WSJ) February 8, 2023
According to the Wall Street Journal, Ivy Park sales suffered heavily in the past year as a result of “weak sales.” Despite the online hype, sales for Ivy Park dropped by 50%, down to $40M in 2022 — an 86% gap from what they initially anticipated. Experts predicted Ivy Park would generate $250M in sales last year. Adidas now has a $200M hole among its projects. With the Yeezy brand now gone from its roster, it appears that Adidas needs to restrategize for its next drops with Ivy Park.
Despite the report, a rep for Adidas asserted that their partnership with Ivy Park is “strong and successful,” in a statement to Fast Company. “As part of our valued strategic partnership with Ivy Park, we continue to be inspired by our collective vision and are proud of the work we have created together,” the rep continued. Beyoncé and Ivy Park are currently revving up to release the PARK TRAIL collection on February 9th, which the singer described as her “favorite drop to date” in a post shared on Instagram.
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