Image: Instagram
Beyoncé and Adidas have mutually agreed to call off their partnership.
In 2022 the Ivy park made a sales drop of more than 50%. It had a sale of $40 million (Sh 5,254,000,034) down from $ 93 million (Sh 12,215,550,080) in 2021.
Although the company had expected to do a sale of $250 million (Sh 32,837,500,215) this year.
Adidas lost $10 million (Sh 1,313,500,008) from the partnership despite that Beyoncé got her usual annual compensation of $20 million (Sh 2,627,000,017).
The Ivy Park line was first introduced in 2016 as a collaboration with Sir Philip Green of Topshop.
However, in 2018 there appeared to have been significant creative differences between Philip Green and Beyoncé where she bought out her brand and made her own course to maintain her creative freedom.
In the same year, the singer collaborated creatively with Adidas relaunching her Ivy Park athletic line and developing new footwear and products for the company.
In January, Beyoncé previewed Park Trail her latest Adidas x Ivy Park collaboration in Dubai a day before she performed a private concert in the city.
The Grammy award-winning artist is set to launch her Renaissance Tour in May 2023 at Friends Arena in Stockholm. The tour is set to run for three months.
The singer will tour 40 cities in the U.K., Europe, and North America.
This will mark the first-ever live performance of her new album, Renaissance, and the first live show for Beyoncé in general since her 2017 On The Run II tour with husband Jay-Z.
The Renaissance album was released in July 2022. It consists of 16 tracks.
When Beyoncé released the album she stated that it helped her place a dream that she once had into context and find escape during a scary time in her life.
This year Beyoncé made history by becoming the artiste with the most number of Grammy awards. Overall, she has won 32 Grammy Awards and has been nominated 88 times under different categories.
