Beyoncé’s Ivy Park clothing line is not having nearly the demand that her concert tickets are.
According to The Wall Street Journal, Queen Bey’s partnership with Adidas has “weak sales,” resulting in a $200 million deficit in the annual projects for the sportswear giant.
In 2022, Adidas projected Ivy Park to hit a mark of $250 million in sales. Instead, the brand only made $40 million, a drop by over 50%. The Ivy Park brand is a loss for Adidas, which also has to pay $20 million annually to the Renaissance hitmaker.
The deal tying Beyoncé to Adidas is set to end in 2023. The brand is publicly referring to the partnership as “strong and successful.”
“We continue to be inspired by our collective vision and are proud of the work we have created together,” the company said.
Ivy Park made its debut in 2016, featuring running shorts and other athletic wear, bags, and accessories. Beyoncé took sole control of the brand in 2018, entering the partnership with Adidas in 2019.