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Beyonce’s Parkwood has cut ties with British retail magnate Philip Green, ending a 50/50 partnership that culminated in the launch of her athleisure clothing brand Ivy Park.
Green has recently been accused of sexual harassment, bullying and racial abuse of staff at his companies. He was named in parliament last month as having taken steps to prevent publication of the allegations. The billionaire owns the Arcadia Group, parent of Topshop, which reportedly owned half of Ivy Park.
“After discussions of almost a year, Parkwood has acquired 100 percent of the Ivy Park brand,” Ivy Park said in a statement, adding that Topshop stores will fulfill any existing orders for Ivy Park clothing.
The deal was originally reported by the Financial Times. Financial details were not disclosed.
The Topshop-backed line of fashion-forward bodysuits, leggings, crop tops and other sporty gear made its debut in March 2016, “creating a new kind of performance wear: modern essentials for both on and off the field,” the company said at the time.
Subsequent marketing campaigns have featured SZA, Black-ish star Yara Shahidi and model Sophie Koella, among others.
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