Source: Kevin Mazur / Getty
Ivy Park, the collaborative athleisure brand from Beyoncé and adidas, is allegedly falling short of expectations. According to an article from the Wall Street Journal, the line only delivered 16% of targeted sales last year, and such poor numbers hurt more in light of adidas’ recent dissolution of its high-profile partnership with the Yeezy brand.
When Ivy Park first announced its partnership with adidas three years ago, some Wall Street analysts projected the clothing label to surpass anything the Yeezy line could do. However, WSJ now reports Ivy Park achieved $40 million in sales in 2022, a far cry from the forecasted $250 million. Furthermore, the deal between Ivy Park and adidas ends this year, which puts their future together in limbo.
There are rumors the almost century-old German sports company may not renew its contract with Ivy Park. Insiders suggest the line struggled due to weak promotion from Beyoncé herself. They also point to the fact that Ye (formerly known as Kanye West) could often be seen wearing Yeezy apparel and making public appearances with regard to his brand.
Adidas stands to lose nearly $500 million on the canceled Yeezy deal. And the company initially looked to make $335 million this year from the Ivy Park line. Instead, it has since scaled back those projected earnings to a more modest $65 million. The company also released a lukewarm statement to the press as well.
“Our partnership is strong and successful. As part of our valued strategic partnership with lVY PARK, we continue to be inspired by our collective vision and are proud of the work we have created together,” an adidas spokesperson told various outlets via email. “As a matter of principle, we do not disclose key financial figures for individual product categories.”
News of Ivy Park’s struggles comes days before the release of its newest collection, “Park Trail.” See the promo video below featuring cameos from Offset, Ice Spice and more. The collection is scheduled to drop worldwide Thursday, Feb. 9.
See how Twitter’s reacting to Ivy Park’s low sales below.
Beyonce’s IVY PARK Line With adidas Is Reportedly Struggling, Twitter Has Thoughts was originally published on cassiuslife.com
