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Beyoncé Knowles has found a new home for its brand Ivy Park Athleisure – and Adidas adds one of the world's biggest celebrities to its ranks.
The singer signed an agreement with Adidas to revive Ivy Park, her athleisure line previously sold to Topshop. As part of this agreement, Knowles will become a creative partner of the company, developing new shoes and apparel for Adidas.
Knowles called this opportunity a "lifelong partnership" in a statement. Her new collection of products will be based on the rich and rich narrative of the singer.
His Ivy Park collection was launched at Topshop in April 2016 and is a joint venture. Products ranged from US $ 25 to US $ 265.
Ivy Park bought back its remaining stake in Topshop's parent company, Arcadia Group, last year after Aradia's billionaire chairman Philip Green was named to the UK parliament to be the subject of claims for abuse.
He denied the charges, saying "to the extent that it is suggested that I have been guilty of illegal badual or racist behavior, I categorically and completely deny these allegations".
Adidas added that the partnership "respects Beyoncé's ownership in her business, which continues her journey as the first black woman to be the sole owner of an athleisure brand".
Retailers like Adidas rely on sponsors and celebrity partners to attract customers to their brands. For example, last year, Walmart partnered with Ellen DeGeneres to develop EV1, an exclusive clothing line.
Martha Stewart offers a range of home products designed exclusively for Macy's. And sports brands like Nike, Under Armor and Adidas sign contracts with athletes for them to wear and wear their clothes.
Technology companies are also hiring brand partners: Intel hired will.i.am singer as director of creative innovation in 2011 and BlackBerry hired Alicia Keys as creative director in 2013.
Although Knowles 'involvement in Adidas' daily activities is unclear, she is more than a celebrity endorser. Knowles has its own label and invests in startups for women's health.
Source: CNN
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