Ivy Park, one of Beyoncé’s brands, makes just 40 of its projected $250 million

Beyoncé’s Ivy Park clothing brand earned just $40 million in 2022, despite projections made by the brand itself that it would reach $250 million last year

The American singer, Beyoncé Knowles-Carter, launched Ivy Park for the first time in 2016, in a collaboration with the British store Topshop. Two years later, in 2018, Beyoncé acquired the entire brand and, in 2019, joined Adidas, in an attempt to internationalize the sportswear line.

The German brand hoped to achieve, in its partnership with the singer, the same success as the Yeezy brand of the American singer Kanye West (now known as Ye), also obtained in collaboration with Adidas. However, according to brand executives, Adidas and the singer disagreed on how to market the sportswear line. Beyoncé is rarely seen wearing her own designs, which sets her apart from Kanye West, who constantly advertises his collaboration with Adidas. Marketing-wise, Kanye West’s move was well-received by the brand and consumers alike.

This disagreement compounded the fact that Ivy Park sales did not meet domestic sales projections for the year 2022. Beyoncé’s brand, which last year expected to reach $250 million in profits, made just $40 million – about €37 millions. The brand has not yet commented on the large disparity between the anticipated numbers and those obtained.

In addition to this divergence, a fall occurred. As of 2021, Ivy Park has earned $93 million in sales. Furthermore, according to the projections made by the brands for the year 2023, the Ivy Park line will reach €63 million in sales, which is also well below the projection previously made by Adidas, which expected to reach €335 million this year.

It should be noted that the contract between Ivy Park and Adidas, in principle, ends at the end of this year (2023), although the possibility of it being extended is on the table.

The new Ivy Park collection, Park Trail, was launched on February 9, 2023. It remains to be seen, of course, whether the agreement entered into between Adidas and Ivy Park will be reconsidered.

Beyoncé breaks record at the Grammys

Last week, Beyonce made history by becoming the most awarded artist ever at the Grammys. The singer now has 32 Grammy Awards, thus breaking the record previously held by George Solti, a Hungarian-British Maestro who died in 1997, winner of 31 Grammy Awards.

Quincy Jones, now 89 years old, occupies third place on the chart of the most awarded by the Grammy, with 28 awards. It is therefore likely that Beyoncé will maintain her leadership in the coming years.

Despite not having won in the category of ‘Album of the Year’ with her work Renaissance, Beyoncé won in the categories of Best Dance/Electronic Recording, Best Dance/Electronic Music Album, Best Traditional R&B Performance and, lastly, in the category of Best R&B Song. The best album of the year, titled “Harry’s House”, for which she had also been nominated, was, however, awarded to Harry Styles.

It should be noted that, during her career, Beyoncé achieved a total of 88 nominations for the Grammys, tying in number with her husband, rapper and producer Jay-Z, which also constitutes a record.

Renaissance World Tour announced on February 1 by the singer

Beyoncé announced, through her Instagram account, that she will return to the stage later this year, with the Renaissance World Tour. The last time the singer was on tour was in 2018, with her husband Jay-Z.

Long awaited by its fans, the Renaissance World Tour will start in Europe, more precisely in Sweden, with dates already confirmed in the United States.

With this success, it is not excluded that Adidas wants to renegotiate its connection to the singer.