Adidas is really on a roll regarding their shoe deals with famous singers. It’s not a good one, either. Months after their high-profile divorce with Ye, It’s Queen Bey; they are saying bye to now.
Back in 2018, Beyonce entered a creative partnership with Adidas and relaunched her Ivy Park activewear line. She had a say in a shoe line too. Well, it didn’t work. They couldn’t get along creatively, and sales were horrific. How bad? The Wall Street Journal reported Ivy Park’s revenue projections for 2022 were $250 million, but only sold about $40 mil.
Sales have been falling off a cliff — in 2021, $93 million in merch was sold, but this line just fell flat. However, that doesn’t mean Beyonce is left holding the bag. She’s set to earn $20 million in salary this year.
Here’s what makes the timing a bit odd — Beyonce is embarking on her Renaissance World Tour soon, and imagine the merch sales she could have done for her Ivy Park line.
That must mean the creative differences were too extreme to overcome.
As for Adidas, they should consider regrouping. They are also taking a $1.3 billion hit from the Kanye West disaster.
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