Sales of Beyoncé's IVY PARK adidas Collection Has Dropped 50% Last Year
Only bringing in $40 million USD after sales projections of $250 million USD.
It is no secret that Beyoncé is a powerhouse in everything she does. Musically, the queen is on top of the world, recently broke the record for the most GRAMMY wins of all-time. However, it looks as if her fashion line is not doing so hot by comparison.
Her
Beyoncé and adidas launched IVY PARK in 2016. At the time, the singer called the deal a “partnership of a lifetime.” However, it seems as if the products are not selling as expected. In the past five of the six seasons, almost half of the merchandise produced was left unsold. The $40 million USD made in 2022 sees more than a 50% decline from the $93 million USD made the year prior. For 2023, IVY PARK is projecting sales of $65 million USD, a much lower target than the previous $335 million USD. The music mogul’s contract with the sportswear giant is set to expire after 2023. In the past, the pair have disagreed on how to market the line. Adidas has wanted more focus on their branding, however, IVY PARK wanted the opposite. It remains to be seen how this deal with thrive down the line.
In other fashion news, Balenciaga is cleaning up its image, partnering with the National Children’s Alliance.
