Beyoncé’s Ivy Park said to be underperforming with falling sales

While Beyoncé regularly comes out on top in the music industry, it seems in fashion her foothold is much less certain with a new report stating that sales for her Ivy Park fashion brand are falling.

The singer-turned-entrepreneur is said to be facing questions surrounding her partnership with sportswear giant Adidas in relation to her clothing brand Ivy Park.

The label was created in 2016 in partnership with former Topshop owner Philip Green, and offers a range of fashion-forward sports and athleisure wear.

However, despite Beyoncé’s musical success, the line has been losing money for Adidas, with a weak performance that has seen a 200 million dollar shortfall in financial projections.

According to documents acquired by the Wall Street Journal, the brand’s sales last year fell by more than 50 percent to almost 30 million dollars.

The report stated that many Ivy Park products have also failed to sell, with roughly half of the merchandise in the last five collections remaining unsold.

Additionally, sales were said to have come in at 40 million dollars towards the end of 2022, down from 93 million dollars in 2021.

Currently, Ivy Park sales are projected to reach 65 million dollars this year, a far cry from Adidas’ target of 335 million dollars.

The publication said that the disappointing performance has left Adidas debating on the collaboration’s future.

Despite the report, Adidas told WSJ that the Ivy Park “partnership is strong and successful”, further declining to comment on the financial performance.

It added: “We continue to be inspired by our collective vision and are proud of the work we have created together.”

It comes as Beyoncé unveiled her latest collection for Ivy Park on Instagram, teasing the line with a picture of herself in a cobalt blue co-ord and long-line sports jacket.