Beyonce has bought out Philip Green from her Ivy Park line after allegations of his sexual misconduct. Beyonce had teamed with the billionaire owner of the Arcadia group in 2014 to create her popular athletic streetwear line, which ultimately launched in 2016 via the Arcadia Group’s Topshop.
The ownership of Ivy Park was originally a 50-50 split, however Beyonce’s company Parkwood has now bought Greens 50 percent share for an undisclosed amount. Green’s reputation has spiraled downwards since he was accused of harassment, sexual misconduct and racism last month, however both parties insist that discussion of this deal predate Green’s accusations.
The Ivy Park brand said in a statement: “After discussions of almost a year, Parkwood has acquired 100 percent of the Ivy Park brand. Topshop/Arcadia will fulfil the existing orders.”