The “partnership of a lifetime”, as referred to by Adidas, is over. NO, this is not about Kanye West or his Yeezy brand even though Adidas had hoped that Beyonce’s Ivy Park brand would perform similarly.
According to the Wall Street Journal, Adidas and Ivy Park had different marketing strategies, with the German multinational company favoring its own identity.
Ivy Park was expected to have revenues of $40 million by the end of 2022, down from $93 million the year before.
Beyoncé was expected to receive the same $20 million in compensation as in prior years, despite Adidas expecting to lose at least $10 million in 2022.