Beyoncé’s Ivy Park Adidas Clothing Line Reportedly Underperforming, Missed Internal Sales Projections By Over $200M In 2022

Beyoncé’s Ivy Park Adidas Clothing Line Reportedly Underperforming, Missed Internal Sales Projections By Over $200M In 2022

From the looks of it, Beyoncé may need to come up with a new marketing scheme for Ivy Park.

On Wednesday (Feb 8) reports revealed that Beyoncé’s clothing line, Ivy Park, partnered with the sports brand Adidas, missed over $200 million in internal sales projections last year. Reportedly, the superstar’s clothing line made up to $40 million in sales in 2022, which was a $93 million reduction from 2021. The company initially hypothesized that Ivy Park would sell up to $250 million in 2022. 

This year, Adidas believes the partnered brand will make up to $63 million in sales, which is lower than the initial $335 million projection for the year. Reportedly, the contract between Ivy Park and Adidas will terminate after 2023. Adidas executives are discussing the possibility of revamping the clothing line or ending the deal, according to reports. 

Beyoncé’s line with Adidas has produced weak sales, leaving a $200 million hole in the company's annual projections

Sales of Ivy Park tumbled by more than 50% to about $40 million in 2022—coming in below internal Adidas projections of $250 million
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— Glock Topickz (@Glock_Topickz) February 8, 2023

Allegedly, the sports brand had hopes of repeating the success they had while partnering with rapper and fashion designer Kanye West for Yeezy. As you may recall, that deal abruptly ended last year due to the rapper’s antisemitic reputation.

However, Adidas and Beyoncé’s team never came to an agreement on how they would market the sportswear. In addition, reports claim the vocalist didn’t appear as often as Kanye West did wearing her own brand in paparazzi shots. Though, the mother of three did appear in advertisements for the line, promoting it on her social media accounts. 

Despite the sales records, Beyoncé will still earn $20 million in compensation from the sportswear brand, as she has in the past. A source has also claimed the rumors about Ivy Park are “not correct,” alleging their partnership is “ strong and successful” and it continues “to be inspired by our collective vision and are proud of the work we have created together.” In addition, the source revealed that the company does not disclose “ key financial figures for individual product categories.”

On Thursday (Feb. 9)  Beyoncé will launch a new Ivy Park collection, Park Trail. As you may know, Beyoncé first launched her activewear collection with Topshop in 2016. In 2018, she purchased full ownership of the brand. The next year, Adidas requested to partner with her on the brand. Two years later, fast food chain Popeyes launched a merchandise line that was obviously modeled after a recent Ivy Park release.

What are your thoughts on the reported downfall of Ivy Park sales? Tell us in the comments below.

[VIA]