With the OTRII run tour behind her, Beyoncé put on her boss cap and proceeded to finish off final negotiations for the buy back of her Ivy Park label, a move that makes her the sole owner as of November 15, 2018.
A statement released by the brand yesterday (November 15) read: “After discussions of almost a year, Parkwood has acquired 100% of the Ivy Park brand. Topshop-Arcadia will fulfill the existing orders.”
Beyoncé started the label in 2016 in partnership with 66-year-old billionaire and Arcadia Group owner Philip Green. It’s been a trying year for Green, who has come under fire in recent months due to an array of sexual harassment claims. Green, who was knighted by the Queen in 2006, has denied the claims, but nonetheless there have been calls for boycotts of his companies, which include TopShop where Ivy Park is sold.
Some have speculated Beyoncé pushed for the split because of the allegations, however, based on the timing cited in the Ivy Park statement, negotiations began before the allegations against Green were made public.
That said, Green has never been squeaky clean and his name often ends up in the press for all the wrong reasons so it’s entirely possible that Beyoncé concluded Ivy Park would be better off under her solo stewardship.
Ending the relationship isn’t a small deal because it means the brand will have to build a new team to oversea manufacturing and other supply-chain-related responsibilities TopShop was responsible for.
Ivy Park currently is sold at TopShop, Nordstrom, Foot Locker, ivypark.com and other retailers. It’s not clear if the brand will continue to be sold at TopShop once all existing orders are fulfilled.