Adidas Dumps $500M Worth Beyoncé After Singer Failed to Deliver Potential $250M Sales Amidst Reports of Kanye West Making Return to Save Company
Beyonce’s star power is incredible. She is one of the best-selling artists of all time. This is why top brands want to associate with the singer. However, her association with the German brand Adidas was a huge letdown. Beyonce and Adidas collaborated on a huge project, which the Wall Street Journal estimated would bring a whopping $250 Million in sales.
Sadly, the response from consumers was underwhelming and therefore the sales target wasn’t achieved. Reports have now surfaced to the effect that Adidas has axed its partnership with the Baby Boy star. While on the other hand, Adidas is reportedly warming up to disgraced rapper Kanye West, after their bitter fallout.
Beyonce Disappoints Adidas, Gets Dumped by the Iconic Brand
According to The Hollywood Reporter, Beyoncé, and the sportswear giant, Adidas have reportedly ended their partnership. In 2018, the singer partnered with Adidas to relaunch her Ivy Park athletic collection as well as design new footwear designs for the brand.
The rumored split comes two months after the Crazy in Love singer’s Ivy Park apparel business saw a 50% drop in sales, taking in only $40 million in 2022 compared to $93 million in 2021. But as per sources the decision to end their collaboration came due to creative differences between her brand and Adidas.
According to The Wall Street Journal reports, Adidas expected Beyonce’s brand partnership to generate hundreds of millions of dollars in revenue, as the company hoped Ivy Park would perform similarly to Kanye West’s Yeezy brand, but Ivy Park releases undersold, with roughly half of the merchandise remaining on shelves.
Adidas and Ivy Park had different marketing strategies, with the German brand pushing for its own identity and the singer is excited to reclaim her own brand. Despite the rumored controversial news of their possible split, Beyonce has a lot to look forward to with her upcoming Renaissance World Tour.
Beyonce Discusses Her Partnership With Adidas
Beyonce revealed in a 2019 interview with Elle magazine that she is happily partnered with Adidas. The singer shared,
“My mother instilled in me the idea that creativity starts with taking a leap of faith – telling your fears they are not allowed where you are headed. And I’m proud to do that with Adidas. I am excited for you to see the campaign for the first collection of this new partnership. It incorporates my personal style and expands that to include something for everyone.”
She continued,
“I love experimenting with fashion, mixing high and low, sportswear with couture, even masculine and feminine. This new line is fun and lends itself to creativity, the ultimate power. I focused on designing a unisex collection of footwear and apparel because I saw so many men in Ivy Park.”
Beyoncé concluded,
“The way they have embraced the brand is an unexpected gift. I appreciate the beauty of gender-neutral clothing and breaking the so-called fashion rules. I took a chance on myself when I bought my company back. We all have the confidence in us to take chances and bet on ourselves.”
Also Read: Jay Z Is Not The Only Celebrity Beyonce Has Dated: Rumors Behind The Pop Queen’s Dating Life
Beyoncé teased her latest Adidas x Ivy Park collaboration in Dubai in January, a day before performing a private concert in the city. The collection included outfits in bright orange, blue, and camouflage for kids, men, and women.
Source: Hollywood Reporter
