Why Beyoncé’s Ivy Park launch could boost Adidas more than Kanye West did with Yeezy's
The relaunch of Beyoncé Knowles-Carter’s athleisure brand is finally here.
The superstar’s Ivy Park’s collection, launched in partnership with Adidas (ADDY), comes after much anticipation. Some analysts believing the new collaboration will be the German company’s secret weapon in its sneaker battle with Nike (NKE).
Beyoncé joins an already impressive roster of celebrities and entertainers who have partnered with athletic brands over the past few years. Rihanna previously had a partnership with Puma while Kanye West’s is currently collaboration with Adidas over his Yeezy shoeline and accessories.
Yeezy sales are estimated to have earned $1.5 billion in 2019, according to Forbes — and have helped lift Adidas’ bottom line since the first launch in February 2015.
Analysts anticipate the new Ivy Park collection could do even better, as athleisure and activewear remains top of mind for consumers amid today’s wellness boom. The market is expected to hit $69.2 billion in 2020, compared to a $54.3 billion finish in 2015.
The new iteration of Ivy Park comes four years after Beyoncé founded the company back in 2016 alongside Topshop owner Philip Green, before the partnership dissolved in late 2018.
Beyoncé eventually bought out Green’s 50% stake after he was accused of sexual assault — making the singer the first black woman to solely own an athleisure brand.
Currently, little is known about Ivy Park’s financials and while it’s unclear whether or not fans have fully embraced the line, it did sell out almost immediately after its first launch.
Leveraging Hollywood starts to relaunch Ivy Park
Beyoncé teased select items from the collection on her social media pages leading up the launch, but the real tease arrived in the form of a giant orange box plastered on the Instagram pages (FB) of Hollywood’s most elite.
A-listers like Reese Witherspoon, Janelle Monae, Yara Shahidi and even Cardi B posted videos and images of the giant boxes filled with various items from the launch — a gift from Queen Bey herself.
Beyoncé’s worth a cool $400 million, according to the latest figures from Forbes.
Alexandra Canal is a Producer at Yahoo Finance. Follow her on Twitter @alliecanal8193
Read more:
Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, SmartNews, LinkedIn, YouTube, and reddit.