Beyoncé’s Ivy Park Reportedly Underperformed By $200 Million In 2022

Beyoncé is easily one of the biggest artists in the entire world. Overall, she is one of the most beloved artists of this entire generation. The artist is seen as a fantastic performer who also puts out phenomenal albums. In the eyes of many, she simply cannot do wrong. Her latest body of work Renaissance was a massive success, and her supporters are already looking forward to the next project. Considering how Beyoncé is always changing her sound and reinventing herself, we’re sure we can expect something truly unique.

Additionally, the artist is always trying to expand her brand outside of music. One way she has done that is through her Ivy Park brand with Adidas. This is a brand that came out just a few years ago after numerous meetings with various other sportswear companies. In the end, she chose Adidas because it reportedly aligned the most with her goals and her beliefs. However, it seems as though Ivy Park hasn’t been the success that Adidas was hoping for. This news comes from Rex Woodbury, who is a business writer and investor.

Beyoncé x Ivy Park Struggles

In the tweets above, you can see that Woodbury details how Beyoncé’s athleisure brand lost Adidas about $200 million in 2022. This is because the brand thought that it would sell upwards of $250 million. Although, the brand actually only did about $40 million in sales. These are horrific numbers for the brand, which is set to lose $1.3 billion thanks to the likes of Kanye West. Overall, many are chalking up these numbers to the fact that Beyoncé isn’t someone who has ever sported athleisure. Simply put, this was never a good fit.

Regardless, it seems as though Adidas and Ivy Park still have plans for future releases. After all, the two are currently under contract, and it would be an admission of defeat for either side to call it quits. However, it is clear that the two will need to change their marketing strategies, moving forward. Let us know what you think about these numbers, down below. Additionally, stay tuned to HNHH for more news and updates from around the streetwear world.

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Kanye West Reaches Agreement With Adidas To Sell Remaining Yeezy Sneaker Inventory

Kanye West and Adidas have finally reached a settlement to sell the rest of the remaining $500 million in Yeezy sneaker inventory. The footwear giant terminated its partnership with West this past October following his anti-Semitic comments and the several antics that followed — including sitting down with InfoWars host Alex Jones to chat about his admiration for Hitler and Nazism.

According to reports, Adidas and the controversial rapper will sell the remaining sneaker inventory this year. The new contract will focus solely on selling the rapper’s existing merchandise and will not include any new designs or apparel from his clothing line.

The settlement comes off the heels of Adidas CEO Bjorn Gulden revealing that the athletic brand was expected to take a nearly $1 billion hit since terminating their partnership.

“The numbers speak for themselves. We are currently not performing the way we should,” Gulden said before mentioning that 2023 would be a “year of transition” for the company.

He continued, “We will put full focus on the consumer, our athletes, our retail partners, and our Adidas employees. Together, we will work on creating brand heat, improve our product engine, better serve our distribution. and assure that Adidas is a great and fun place to work. Adidas has all the ingredients to be successful: A great brand, great people, fantastic partners, and a global infrastructure second to none.”

Kanye West Rumored To Be Back With Adidas

Kanye West and Adidas had a very public split during the late stages of 2022. Overall, it is very easy to see why Adidas wanted to drop Ye. Firstly, Kanye was the one who technically initiated the breakup. Secondly, West was in the middle of his anti-Semitic tirades that included praise for figures like Adolf Hitler. Adidas was not going to let this slide, and they ultimately decided to end their contract. This subsequently led to reports that Adidas had the rights to the Yeezy catalog and that they could do as they wish with it.

Unfortunately for Adidas, this left them with $520 million worth of unsold Yeezys. While Adidas can still sell Yeezy designs without the Yeezy logo on them, the $520 million of inventory in question still had Ye’s insignias. As a result, the brand was stuck with the inventory, leading to reports that the company would lose over $1 billion in revenue this year. Consequently, Adidas has been scrambling to find ways to recoup its previous investment. This has now led to some very interesting rumors that have begun to ramp up on social media.

Kanye West x Adidas Again?

According to the tweets above, as well as many others on Twitter right now, Adidas and Kanye are back together again. However, it is important to note that neither Adidas nor Kanye West have actually hinted at such a thing. Although, reporters like Brendan Dunne of Complex have been told by some sources that a deal has been in the works. For now, it seems like this rumored deal is simply temporary. Adidas wants to sell off its remaining Yeezy inventory, and this deal would simply mean that Ye is letting them do it. Ultimately, this would include a hefty royalty for Kanye, who would be doing Adidas a huge favor here.

As we have stated, this is simply a rumor that is starting to gain steam. Either way, there is no doubt that a reunion between the two would break the internet. Furthermore, that remaining stock would sell out instantly. This is a developing story that we are following, so stay tuned to HNHH for the latest news and updates from around the sneaker world.

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Rumors Circulate That Kanye And Adidas Have Reached Deal To Sell Remaining Billion Dollar Yeezy Inventory

kanye west adidas

Rumors are circulating around the internet and social media that Adidas has struck a new partnership with Kanye West, just months after he was dropped by the brand for his anti-semitic comments.

Rumors of the new partnership come after reports that Adidas could lose up to $1.3 billion dollars in unsold Yeezy sneakers. According to some reports, it will cost Adidas millions to rebrand the shoes and some reports even said that they would still have to pay Kanye a royalty if they were to rebrand the shoe and sell it.

One sneaker YouTuber, Roszko, even made a video confirming that Ye and Adidas are back in business together. He says in the video that the partnership is solely to sell off the remaining Yeezy inventory and that no new designs will be produced.

While Ye seems unbothered by being dropped from Adidas, these rumors have not been confirmed by Adidas or Kanye himself. At the time, however, Ye seems unbothered by not being in partnership with Adidas. He has adopted a mere hermit lifestyle ever since his “cancellation” and even got remarried.

As for Adidas, having Kanye back on the team would surely help, as the company continues to deal with the financial fallout from its split with West. Newly appointed Adidas CEO Bjørn Gulden said in a recent press release that the company is not performing how it should and needs to use 2023 to “make Adidas shine again.”

“The numbers speak for themselves. We are currently not performing the way we should. 2023 will be a year of transition to set the base to again be a growing and profitable company. We need to put the pieces back together again, but I am convinced that over time we will make Adidas shine again. But we need some time.”

The post Rumors Circulate That Kanye And Adidas Have Reached Deal To Sell Remaining Billion Dollar Yeezy Inventory appeared first on The Source.

Karma After Kanye? JP Morgan Chase, Adidas, & Balenciaga Fall Short Since Split With Ye

Kanye Karma

Several companies such as JP Morgan, Adidas, and Balenciaga have cut ties with Kanye West since his 2022 remarks were deemed antisemitic. However, since Ye’s partnership terminations, it seems those companies are also experiencing financial and reputational issues. Since late 2022, Kanye West has lost several business dealings. Now, it seems those same companies are experiencing financial […]

The post Karma After Kanye? JP Morgan Chase, Adidas, & Balenciaga Fall Short Since Split With Ye appeared first on SOHH.com.

From BBC to LV: A History of Pharrell’s Fashion Projects

Image via Getty/Michael Buckner
  • Image via Getty/Edmond Terakopian – PA Images

    BBC ICECREAM

  • Image via Getty/Gregory Pace

    Louis Vuitton (2000s)

  • Image via Getty/Evan Agostini

    Bape

  • Image via Getty/Victor Boyko

    Moncler

  • Image via Getty/Christopher Polk

    Adidas

  • Image via G-Star

    G-Star

  • Image via Getty/Alexander Tamargo

    Richard Mille

  • Image via Getty/Han Myung-Gu

    Chanel

  • Image via Getty/Stephane Cardinale – Corbis

    Tiffany and Co.

  • Louis Vuitton (2023)

Adidas Could Lose Over $1 Billion In Sales Thanks To Unsellable Yeezy Products They Have Laying Around

Adidas has been under severe financial stress since parting ways with Kanye West. According to the company’s CEO Bjorn Gulden, the athletic brand is projected to lose nearly 1.3 billion dollars in sales this year, CNBC reports. In a statement released on February 9, the company notes that the significant dip in sales is linked to its recent separation from the Chicago-bred mogul after being unable to sell off its remaining Yeezy apparel.

The company could also lose an additional $534 million if it cannot repurpose the remaining Yeezy stash, the statement read.

“The numbers speak for themselves. We are currently not performing the way we should,” Gulden said. He also noted that 2023 would be a “year of transition” for the company.

In 2022, Adidas parted ways with the controversial rap star after several anti-semitic comments that he made, as well as the several incidents that followed — including making a pitstop on InfoWars to chat with Alex Jones about his admiration for Hitler and Nazism.

However, the brand shared it would still use its designs without the Yeezy label. So far, they haven’t found much success.

On the other hand, Kanye hasn’t had the best luck either. The former billionaire’s recent antics were hilariously parodied in an episode of South Park. He’s also being investigated for battery after snatching a woman’s phone last month.

All this comes after it was reported that Adidas is taking a $200 million loss on Beyoncé’s Ivy Park.

Adidas Could Lose Over $1B Due To Low Yeezy Sales After Dumping Kanye West

Kanye Leaves Gap

Sportswear brand Adidas is experiencing a low demand for Yeezys and could lose over $1 billion in sales. The brand ended its partnership with Kanye West following his antisemitic statements in 2022. Updated By: Kendall Parks (2/10/23 at 3:31 pm) Adidas is set to lose over $1 billion due to customers’ non-interest in buying the remaining Yeezy […]

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Adidas Blames Kanye West Amid Potential Losses

Adidas has been having a bit of a problem as of late, especially as it pertains to Kanye West and Yeezy. Firstly, we must set the stage in order to explain the problem correctly. It all began many months ago as Ye was looking to shed himself off his Adidas deal. Overall, his methods of doing so were highly debated, and for the most part, people did not care for them. His anti-Semitic rants were uncalled for, and it put the sneaker brand in a bad position. Ultimately, they decided to get rid of Kanye, once and for all.

However, the brand opened up a can of worms by noting that they will continue to sell Ye’s designs, albeit with new branding. Now, they have a huge branding conundrum on their hands, and there is no telling if fans will like to purchase these shoes without “Yeezy” written on them. Furthermore, Adidas was left with a massive inventory of Yeezy sneakers that they aren’t sure what to do with. In fact, they have $534 million worth of them.

Adidas Has A Problem

Kanye West attends the Givenchy Womenswear Spring/Summer 2023 show as part of Paris Fashion Week on October 02, 2022 in Paris, France. (Photo by Stephane Cardinale – Corbis/Corbis via Getty Images)

According to TMZ, the three-stripes brand is now very concerned about this. During a recent call, the brand noted that it could lose upwards of $1.3 billion in 2023 alone. Mostly, they are putting the blame squarely on the shoulders of Kanye. Without him, they have lost a ton of momentum. Consequently, Adidas CEO Bjorn Gulden is calling this a transitional year for the company. While this may be the case, it is definitely not off to a good start.

Overall, this is a bad situation for Adidas, albeit one that they had very little agency over. With Ye acting erratically, they needed to cut ties. Now, however, Adidas must find a new way to attract consumers, that does not involve Yeezy. Let us know what you think about this situation, in the comments below. Additionally, stay tuned to HNHH for the latest news and updates from around the sneaker world.

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The Things Beyoncé And Adidas Can Do To Save Ivy Park

Earlier this week, it was reported that Ivy Park, the co-branded clothing line from Beyoncé and Adidas, was underperforming. A lot.

Projected to make $200 million last year, internal documents seen by The Wall Street Journal confirmed that the collection had only pulled in $40 million, despite customers reporting sellouts and difficulty purchasing products online.

Obviously, when Adidas hooked up with Beyoncé in 2019 (after Ivy Park’s partnership with TopShop was ended over accusations of improper conduct by cofounder Philip Green), the expectation was for Beyoncé’s incomparable celebrity to do most of the heavy lifting in terms of sales.

Unfortunately, that’s not how things panned out; while Adidas’ similar partnership with Kanye West yielded nearly $2 billion in sales until Ye himself torpedoed that profitable alliance with his deplorable views, Adidas is reportedly figuring out how to revamp the Ivy Park deal.

Now, I’m no fashion expert, but I’ve made some observations using fan feedback on social media that might explain why the collection fell short of expectations. It’s no fun to look at the “why” without also offering some solutions, so that’s what we’re going to do here. The thing is, I want Beyoncé to win, both because I like success stories more than failure ones, and because I know that when Black folks fail, it makes the people in charge hesitant to extend future opportunities.

Here are five things that Adidas and Beyoncé can do to save Ivy Park.

Pick A Side

While the most recent drop focused on outdoorsy aesthetics like parkas and camouflage, prior collections have been a rather confusing jumble of athleisure and couture. Designs that wouldn’t be out of place on a runway fight for space with workout gear that looks more flashy than functional. The time has come to decide just what kind of brand Ivy Park really is.

As a prime example; my girlfriend has two Ivy Park trenchcoats in her closet at the moment. Both are beautiful in their way, but they are also big, ungainly things that don’t really do much to keep her warm and take up a lot of space when we try to go out (they’re both made of mesh, so rain goes right through them). By contrast, the TopShop collection included staples like yoga pants and sports bras — stuff people actually wear.

Given the line is a partnership with Adidas, moving in a more sportswear-inspired direction could provide some much-needed focus. Bey’s attempts at high fashion could be spun off to another label, or even a separate division, like Adidas’ own luxury Y-3 line. I’m sure there are tons of Beyoncé fans who’d love to run their errands in their Ivy Park sweatpants or hit spin class in some bike shorts with a touch of Beyoncé style. Give them that!

Get Back To Basics

While Adidas reported that nearly half of the produced items weren’t selling, fans said the coveted items they wanted were gone before they could grab them. What gives?

Well, considering fans also spent a fair amount of time each drop making fun of items like denim chaps, the problem seems pretty clear to me. Longtime Beyoncé fans probably aren’t surprised by some of the funkier designs. She had similar issues with her first clothing line, House of Dereon, in the early ’00s. But, honestly, how many music fans ride horses on the regular? Dropping the gimmicky items could save a lot of time and effort and allow Adidas to stick to what it’s great at: comfy sportswear.

The foundations of most clothing brands are basics that customers can mix and match, dress up or down, and that won’t break the bank. Pointing to some of Adidas’ competitors, Champion and Nike do steady business with sweatsuits, T-shirts, and even underwear and socks. I think Ivy Park can offer those things and if they need a little more pizzazz, just remember: it’s all in the details. Keep it simple!

Stop Doing Drops

One of the main complaints about the most recent Ivy Park drop is its timing. With the Renaissance World Tour just months away, the BeyHive is already smashing its collective piggy banks for tickets. Why make them make a choice?

Relatedly, this drop is very woodsy, with parkas and cargo pants, but spring is right around the corner! Who wants to buy fall/winter stuff in February, knowing they might even receive their orders until March?

It’s understandable why Adidas (or Bey) went with the streetwear model; it’s worked for brands like Telfar, and of course, Yeezy products did gangbusters.

But it’s also important to understand the differences in their respective strategies and fan bases. Telfar does do drops, but it also does plentiful restocks and has a few reliable base models it always comes back to, allowing fans who missed out multiple chances.

And Beyoncé fans aren’t hypebeasts, although they display similar behavior sometimes. They want to support their fave, but they aren’t the type to line up outside a sneaker store overnight for a release. Moving away from streetwear drops to just having a consistently available clothing line might make all the difference.

Make It Easier To Buy The Clothes

Speaking of sneaker stores, one of the more common complaints I’ve seen about Ivy Park on social media is how hard it is to get. It’s only available in select brick-and-mortar retailers, so once the bots clean out the website, fans are left hunting down the nearest Adidas outlet and hoping they get there before the bones are picked over.

If they can find the style and size they want, the price is often a lot higher than many are excited about paying. Regular folks’ disposable income has become more precious than ever as rent, gas, food, childcare, and other expenses pile up. And if it comes down to the decision between a new Ivy Park hoodie and the Renaissance vinyl box set… fans will stick with what Beyoncé herself is best at.

So, lower the price and put it in more stores. This kills the “exclusivity” aspect, sure, but since when was liking Beyoncé supposed to be exclusive?

Open Up

The final point spins off that “what Beyoncé is best at” line above. Although many of her performance lewks are iconic, Beyoncé herself is kind of a recluse. One of the major selling points of Yeezy is that you always saw Kanye outside, wearing his own clothes, making the desirability for those clothes — however goofy they might have been — go up.

The Journal reported that this was kind of a sticking point in the partnership, as well. Beyoncé is a notoriously private person. She doesn’t leave the house unless it’s to go to the studio, rehearsal, or on tour. But she may need to get over that reticence and start to open up. With social media, she still doesn’t need to actually go outside, but her curated professional-shot timeline just isn’t gonna cut it.

We’re in the era where stars like Cardi B, Doja Cat, Lizzo, and Megan Thee Stallion do livestreams just hanging out at home listening to music and talking to fans. They do silly TikToks lip-syncing and dancing and trying out food trends. Beyoncé comes from a different era, but that doesn’t mean she can’t adapt. One of the main reasons she has a Hive is because people want to hang out with her. Let them. And if you’re rocking an Ivy Park T-shirt while you do it, don’t be surprised when they become an even hotter commodity than ever.