Adidas announced Thursday that it has signed Beyoncé to “multi-layered” partnership for sneakers and apparel.
Just In: Adidas and Beyoncé have announced a multi-layered partnership today. Beyoncé will be a creative partner for the brand, develop new signature footwear and apparel, as well as re-launch her Ivy Park brand with adidas.
— Jess Golden (@JGolden5) April 4, 2019
The collaboration will see the “Lemonade” singer be a creative partner for the brand, develop new signature footwear and apparel. Additionally, she will re-launch her Ivy Park brand with adidas. The 37-year-old superstar co-founded the activewear brand, Ivy Park, in 2016. Beyoncé’s Parkwood Entertainment company severed ties with partner Philip Green in the wake of sexual harassment allegations last November. Beyoncé took full ownership of Ivy Park and will retain that status despite this new line re-launching under the Adidas umbrella.
“This is the partnership of a lifetime for me. Adidas has had tremendous success in pushing creative boundaries. We share a philosophy that puts creativity, growth and social responsibility at the forefront of business. I look forward to re-launching and expanding Ivy Park on a truly global scale with a proven, dynamic leader,” Beyoncé said.
Eric Liedtke, Executive Board Member – Global Brands, adidas, said that this new venture would help inspire and bring about change. He was excited that the company would now work with Beyoncé who now joins Kanye West, Kylie Jenner, Pharrell Williams and supermodel Karlie Kloss who also have deals.
“As the creator sports brand, adidas challenges the status quo and pushes the limits of creativity through its open source approach. Beyoncé is an iconic creator but also a proven business leader, and together, we have the ability to inspire change and empower the next generation of creators,” he said.
No date has been given as to when this relaunch will take place or how much the items will sell for. Wall Street responded positively to this new partnership. News of Beyoncé joining adidas, a rival to Nike, caused shares to rise.