The Run the World singer will also work with Adidas to co-create a range of new products across categories “from performance to lifestyle” and has been appointed as a “creative partner” for the sportswear giant.
Ivy Park was co-founded with Topshop owner Philip Green in 2016. However, after sexual and racial harassment allegations were made against the business tycoon in October 2018, Beyoncé cut all ties with the high street store.
In November 2018, Beyoncé’s Parkwood Entertainment acquired full ownership of the brand.
Now, the popstar has joined forces with Adidas in what she is calling “the partnership of a lifetime”.
“Adidas has had tremendous success in pushing creative boundaries,” Beyoncé said in a statement.
“We share a philosophy that puts creativity, growth and social responsibility at the forefront of business. I look forward to re-launching and expanding Ivy Park on a truly global scale with a proven, dynamic leader.”
The Crazy in Love singer will retain ownership of her company and will continue “her journey as one of the first black women to be the sole owner of an athleisure brand.”
As well as developing new signature footwear and apparel, Beyoncé will also work with Adidas on a “unique purpose-driven program focused on empowering and enabling the next generation of athletes, creators and leaders”
”As the creator sport brand, adidas challenges the status quo and pushes the limits of creativity through its open source approach,” said Eric Liedtke, executive board member of global brands at Adidas.
Beyoncé is an iconic creator but also a proven business leader, and together, we have the ability to inspire change and empower the next generation of creators."
Little more is known about the new partnership, with Adidas choosing to announce the news via a single Instagram post.
The video, which simply flashes “Beyoncé, Adidas, Ivy Park” in bold black text against a yellow background, has already garnered more than 500,000 views and received an influx of comments from fans.
“If she thinks I’m gonna spend money on this, she’s absolutely right,” one person commented.
Another added: “Holy mother of God, this is insane.”
While a third simply wrote: “TAKE MY MONEY”.
Beyoncé is the latest addition to Adidas’ brand line-up which already includes Kanye West’s Yeezy and Stella McCartney’s sportswear range.
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