Beyoncé will now be one of the brand's “creative partners” for its clothing business.
Both parties have pledged to pursue a shared vision for their respective lines by bringing on board a new generation of designers to open up new markets. In this way, the partnership will centre on the co-creation of new products as well as renewed efforts to enable a new generation of athletes.
In a statement, Beyoncé said: “Adidas has had tremendous success in pushing creative boundaries. We share a philosophy that puts creativity, growth and social responsibility at the forefront of business. I look forward to re-launching and expanding Ivy Park on a truly global scale with a proven, dynamic leader.”
Eric Liedtke, executive board member, global brands, for Adidas added: “As the creator sports brand, Adidas challenges the status quo and pushes the limits of creativity through its open source approach. Beyoncé is an iconic creator but also a proven business leader, and together, we have the ability to inspire change and empower the next generation of creators.”
The brand was originally co-founded with Topshop boss Philip Green. However, after sexual and racial harassment allegations were made towards him last year, Beyoncé’s Parkwood Entertainment acquired full ownership of Ivy Park.