Source: ADIDAS / Ivy Park
When Beyoncé drops a new IVY PARK collection, Beyhive members usually rush to check out in a frenzy hoping to snag the brand’s buzzing activewear. But according to a new report, last year, the brand fell short of hitting its projected sales goal.
In 2022, sales for the “Cuff It” singer’s famed clothing line with Adidas dropped more than 50 percent, the Wall Street Journal reported. Last year, the brand generated $40 million compared to a whopping $93 million in 2021.
Documents obtained by the publication showed that Adidas projected the brand to hit around $250 million in sales for 2022. But, according to the report, “In five of the last six IVY PARK releases, roughly half of the merchandise that was produced went unsold,” causing the sportswear giant to lose over $200 million.
Launched in 2016, Beyoncé size-inclusive athletic wear brand offers a range of items from leggings and jackets to stylish accessories. Combining functionality with high fashion, the brand designs clothing to empower women to feel confident and comfortable in their athletic pursuits.
Sources say Adidas and Beyoncé aren’t seeing eye to eye about IVY PARK’s branding
Insiders told the Wall Street Journal that Adidas and the 32-time Grammy award winner would often disagree over “how to label and market the products, with Adidas pushing for more of its own branding.”
Sadly, after the end of this year, the “Alien Superstar” hitmaker’s contract with Adidas will end. And some sources claim that the company is in talks to possibly “end” or revamp their partnership with the Houston-bred icon.
The sad news comes just days after IVY PARK dropped their new PARK TRAIL collection, a performance-wear line inspired by the “resilience of the outdoors” and “the spirit of the streets,” according to the brand’s website.
On Instagram, Bey teased a monochrome look from the new line, which she claimed was her “favorite drop to date.”
It would be sad to see IVY PARK go. Hopefully, Bey’s upcoming world tour will help to boost sales for the brand.
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