Showcase Black Beyoncé’s Clothing Line w/Adidas Suffers From Weak Sales Revenue from the singer’s Ivy Park brand fell more than 50% last year, documents show

From [HERE] Beyoncé fans are clamoring for tickets to her world tour, but the music superstar is having a harder time finding buyers for her line of inclusive streetwear.

Beyoncé’s fashion partnership with Adidas AG ADDYY -0.03%decrease; red down pointing triangle has produced weak sales of her Ivy Park clothing brand, according to documents and people familiar with the matter, leaving a roughly $200 million hole in the company’s annual projections. 

Sales of Ivy Park tumbled by more than 50% to about $40 million in 2022—coming in below internal Adidas projections for $250 million in sales that year, documents reviewed by The Wall Street Journal show. The documents show Ivy Park has been losing money for Adidas and Beyoncé gets about $20 million in annual compensation.

The contract between the pop star, whose full name is Beyoncé Knowles-Carter, and the German sneaker giant is set to end after 2023, and Adidas executives have discussed either ending or revamping the arrangement, the people said. [MORE]