Beyoncé’s Adidas line is reportedly not meeting expected sales leaving the company facing a downward spiral after dropping Kanye West’s Yeezy brand.
- Sales of Beyoncé’s Adidas line Ivy Park decreased by more than 50% to roughly $40 million in 2022, according to The Wall Street Journal.
- The company expected the singer’s brand to bring in more than $250 million for the year, leading to another challenge after dropping rapper Ye’s, formerly known as Kanye West, Yeezy shoe line.
- The Ivy Park line was launched in 2020, and the contract reportedly ends in 2023, leading to discussions of Adidas dropping the line or working on revising it.
Why it’s news
Beyoncé’s Adidas line is reportedly struggling, bringing another problem to Adidas after the company has struggled to replace the estimated $2 billion in sales generated by Ye’s Yeezy line.
The singer’s Ivy Park line decreased by more than 50% to roughly $40 million in 2022, falling very short of Adidas’s $250 million estimation.
Although the struggle of Beyoncé’s line was previously reported by an Adidas spokesperson says the line remains “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,” says the spokesman. “As a matter of principle, we do not disclose key financial figures for individual product categories.”
The contract for the line reportedly ends this year and is leading to discussions of Adidas dropping the line or working on revising it, but the company has not made any announcements.
While the future of Ivy Park has not been revealed, the company has said that it is launching more products to hopefully appeal to a broader audience. The company plans to launch a Gen-Z sportswear line and a new partnership with the global fitness brand Les Mills.