Beyoncé is easily one of the biggest artists in the entire world. Overall, she is one of the most beloved artists of this entire generation. The artist is seen as a fantastic performer who also puts out phenomenal albums. In the eyes of many, she simply cannot do wrong. Her latest body of work Renaissance was a massive success, and her supporters are already looking forward to the next project. Considering how Beyoncé is always changing her sound and reinventing herself, we're sure we can expect something truly unique.
Additionally, the artist is always trying to expand her brand outside of music. One way she has done that is through her Ivy Park brand with Adidas. This is a brand that came out just a few years ago after numerous meetings with various other sportswear companies. In the end, she chose Adidas because it reportedly aligned the most with her goals and her beliefs. However, it seems as though Ivy Park hasn't been the success that Adidas was hoping for. This news comes from Rex Woodbury, who is a business writer and investor.
Beyoncé x Ivy Park Struggles
In the tweets above, you can see that Woodbury details how Beyoncé's athleisure brand lost Adidas about $200 million in 2022. This is because the brand thought that it would sell upwards of $250 million. Although, the brand actually only did about $40 million in sales. These are horrific numbers for the brand, which is set to lose $1.3 billion thanks to the likes of Kanye West. Overall, many are chalking up these numbers to the fact that Beyoncé isn't someone who has ever sported athleisure. Simply put, this was never a good fit.
Regardless, it seems as though Adidas and Ivy Park still have plans for future releases. After all, the two are currently under contract, and it would be an admission of defeat for either side to call it quits. However, it is clear that the two will need to change their marketing strategies, moving forward. Let us know what you think about these numbers, down below. Additionally, stay tuned to HNHH for more news and updates from around the streetwear world.
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