New reports reveal the drastic drop in sales Beyoncé’s Ivy Park clothing line with Adidas suffered last year.
As Beyoncé’s fans work double shifts to afford Renaissance world tour tickets, the superstar singer’s activewear line is suffering from weak profit margins. Ivy Park reportedly took in $40 million in sales in 2022, as compared to the $93 million the brand earned in 2021, The Wall Street Journal reported.
Bey’s Ivy Park performed well under the $250 million Adidas projected the brand would make last year. According to the report, “five of the last six Ivy Park releases, roughly half of the merchandise that was produced went unsold.”
Considering the investment Adidas put into creating and promoting Ivy Park, insiders say the brand is “losing money for Adidas.”
Beyoncé’s team and Adidas “disagreed over how to label and market the products, with Adidas pushing for more of its own branding,” sources say.
The “Cuff It” singer initially released the size-inclusive line with Topshop, before pairing up with Adidas in 2019, Page Six reported. Her current contract with the sportswear giant is ending after this year, with insiders hinting that “Adidas executives have discussed either ending or revamping the arrangement.”
With news of Ivy Park’s lagging sales coming months after Adidas cut ties with Kanye West’s Yeezy brand due to the rapper’s anti-Semitic remarks, many are sounding off online with mixed reactions.
“This is so tragic omg,” one fan said.
“Kanye was so special@adidasnot even Beyoncé can sell clothes.. levels to Kanye’s influence,” another fan quipped.
One fan outlined a short deep dive into WSJ’s claims on Ivy Park’s alleged struggling sales.
“This is interesting but some things to note: 1. Article was vague about source. 2. Adidas says partnership is great. 3. Ivy Park’s rollouts are always random af and it seems like some advertised things never go on sale. 4. Ivy Park is expensive.”
This is interesting but some things to note:
1. Article was vague about source.
2. Adidas says partnership is great.
3. Ivy Park’s rollouts are always random af and it seems like some advertised things never go on sale.
4. Ivy Park is expensive. https://t.co/s6korg4CJA— Blocka Khan (@Starr_Rocque) February 8, 2023
Amid the reports, Beyoncé took to Instagram on Thursday to promote her “favorite drop to date.”
View this post on Instagram
The Park Trail collection hit stores on February 9. The latest news could motivate Bey Hivers to get their hands on the latest drop.