Ka-ching! Adidas has announced that Beyoncé will be the latest artist to join its roster of creative talent, seeing a move that will re-launch the musician’s Ivy Park line and deliver a new range of apparel and footwear offerings for women.
“This is the partnership of a lifetime for me,” Beyoncé Knowles said in a statement on Thursday.
“Adidas has had tremendous success in pushing creative boundaries,” referring almost certainly to the company’s roster of big-name partners, which has ranged from musicians Kanye West and Pharrell to fashion designers Raf Simons, Yohji Yamamoto, Stella McCartney, and Rick Owens, among others.
“I look forward to re-launching and expanding Ivy Park on a truly global scale with a proven, dynamic leader,” the singer added.[irp posts=9601]
According to Bloomberg, the partnership – which will see 37-year old Beyonce retain sole ownership of her company to continue “her journey as one of the first black women to be the sole owner of an athleisure brand.”
The partnership is expected to help Adidas “wrestle with a slowdown in demand for retro footwear like the Stan Smith and Superstar, which drove its growth for years,” as well as threats from “archrival Nike Inc., which has been gaining ground on the German company on its European home turf.”
Beyoncé’s company Parkwood last year took full ownership of Ivy Park, buying out Philip Green, who became embroiled in allegations of sexual and racial harassment last year. Green has denied all allegations.
“This partnership respects Beyoncé’s ownership of her company which continues her journey as one of the first black women to be the sole owner of an athleisure brand,” the announcement said.