In the midst of Beyoncé’s Renaissance World Tour rollout, Ivy Park released its latest collection, Park Trail, on Feb. 9.
The post Beyoncé’s Ivy Park Generated An Estimated $40M In Revenue In 2022, Report Says appeared first on AfroTech.
“My favorite drop to date,” the superstar proclaimed in her Instagram post.
Park Trail’s campaign featured the likes of Offset along with his son Kody Cephus and Ice Spice. The collection includes puffer jackets, a fur coat, and accessories.
Since Ivy Park’s collaboration with adidas started in 2019, the athleisure clothing line has kept the ball rolling on its collection drops. Beyoncé’s brand raked in $40 million in 2022, according to Insider.
Fox Business reports that the singer receives around $20 million in annual compensation from Ivy Park. Additionally, for 2023, the outlet reported that documents revealed the brand’s sales are projected to reach $65 million.
Following the numbers coming in for 2022, an adidas spokesperson shared with Insider that the company’s partnership with Beyoncé is “strong and successful.”
“As part of our valued strategic partnership with lvy Park, we continue to be inspired by our collective vision and are proud of the work we have created together,” the spokesperson said, per the outlet. “As a matter of principle, we do not disclose key financial figures for individual product categories.”
After a three-year-long run, the outlet notes that Beyoncé and adidas’ contract expires in 2023. It’s speculated that the deal will either be coming to an end or revised.
Insider also shared that “While the future of Ivy Park with Adidas is uncertain, Adidas has announced two other potentially significant moves in recent days, including a new Sportswear line aimed at Gen Z – the first full collection launch in 50 years – and a new partnership with the global fitness brand Les Mills.”
The beginning of Beyoncé’s Ivy Park era came in 2016 through a partnership with former Topshop owner Philip Green. Then, in 2018, she took full ownership. The following year, Beyoncé joined forces with adidas.
“This is the partnership of a lifetime for me,” she said in a press statement, at the time. “adidas has had tremendous success in pushing creative boundaries. 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.”
