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Home / US Business / Adidas knocks on Beyonce for growth with Ivy Park athletics line debut

Adidas knocks on Beyonce for growth with Ivy Park athletics line debut



Ivy Park Collection with Beyonce

Source: Adidas

Adidas taps on the pop icon Beyonce, which has dominated the airwaves for more than two decades, to do the same for the company with its new Adidas x Ivy Park active clothing collection , which debuts in adidas stores and online at midnight.

Beyonce's Ivy Park collection originally rolled out in 2016 with Topshop, but the singer withdrew after a sexual harassment lawsuit was filed against owner Sir Philip Green. Beyonce acquired full control of the Ivy Park brand by buying back shares from Green a year later.

"It is a dream come true to re-launch IVY PARK as sole owner," Beyonce said in a statement. It is her first collaboration with adidas.

Adidas says that the agreement, whose terms were not released, makes Beyonce the first black women to own an athleisure brand.

Sneaker brands have increased by using celebrities of all kinds, not just athletes, to support their products in recent years. Kanye West's Yeezy brand, launched in February 201

5, has been a huge hit for Adidas in terms of both culture and sales. Yeezy sales are estimated to have made $ 1.5 billion in 2019, according to Forbes.

Analysts like the deal and believe Ivy Park may eventually surpass Yeezy's sales, but says it may take time to fully develop.

Ivy Park Collection with Beyonce

Source: Adidas

Queen Bey, one of the most recognized celebrities in the world, has more than 133 million followers on social media on Instagram, the 6 most followed person globally , according to a November research note from Bank of America Merrill Lynch.

"In line with adidas' approach to other franchisees, we would expect it to be a low volume, priced launch … to create brand warmth and in the years after brand is likely to become more democratized," the note states.

"In the beginning, Ivy Park will be smaller than Yeezy, but Ivy Park has the potential to be bigger if properly managed," said Matt Powell, a senior footwear analyst at NPD Group.

Powell says sim Unlike the Yeezy line, he expects Adidas to keep the crowd close at Ivy Park. "The best way to build a brand is to make it sell out," he says. "Scarcity drives demand."

Adidas has been noticeably silent on the release. In an analyst interview with investors, CEO Kasper Rorsted said the company does not expect any significant revenue effect this quarter. "You will see that change through next year," he added.


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