PARIS – Adidas has concluded a comprehensive deal with Beyoncé for shoes, clothing and an Ivy Park relaunch, introducing a new power partnership.
Both parties have high ambitions, the German sportswear giant said.
"Nor attributes to the typical stereotypes of athletes and what ath casual wear and footwear should be, and instead it will create a shared vision of integration that will forever change the opportunities and landscape for everyone," said Adidas.
"Adidas has had enormous success in pushing creative boundaries," Beyoncé noted.
The singer and actress retain ownership of her business, said Adidas, who mentioned the importance of women in leadership, and noted that Beyoncé would "continue her journey as one of the first black women to be the sole owner of an ath leisure brand."
"Beyoncé is an iconic creator, but also a proven manager, and together we have the capacity to inspire change and give the next generation of creators the chance," said Eric Latiedke, a member of the board of directors who is in charge of the company's global brands.
Ivy Park started as a joint venture between Beyoncé and Topshop tycoon Philip Green in three years ago and generated so much traffic on the Topshop website that it caused technical delays in payment. It is a stand-alone brand, but has also been sold to a dozen other retailers, including Net-a-porter, Zalando and Nordstrom, where in the week of its founding it is the top of the leading brands on the department store website has achieved. launch.
Illustrating how the singer's star power translated into commercial muscle power, Slice Intelligence noted that 40 percent of online Ivy Park buyers had also purchased Beyoncé's music after analyzing data from purchases made by 4 million customers at the time. The Ivy Park launch exceeded the release of Athleta by Derek Lam and Kate Spade & # 39; s yoga launch, according to the analytics company. It noted that leggings, trousers and tanks had led the sale, with purchases averaging $ 129 per order.
Beyonce & # 39; s company Parkwood took full ownership of Ivy Park last year and bought out Green, who was embroiled last year in allegations of sexual and racial harassment. Green has denied all accusations.
Clothing has won steam at Adidas and caught up with the shoe activity at the end of last year, after having been in the lead for three years.
The company was overwhelmed by the shift and failed to meet a sharp increase in demand for clothing with average prices due to supply chain shortages, which are likely to have a negative impact on the company's performance this year, especially in North America during the first half of the year. , said it last month.
The collaboration between Adidas and Beyoncé is the latest example of tightening ties with celebrities in the sportswear sector.
Smaller rival Puma has been active in this area, with partnerships with a selection of superstars: Rihanna, Selena Gomez and Beyoncé & # 39; s husband, Jay Z, who participated in a recent campaign to revive the label's basketball activities . Rihanna, meanwhile, started the German activewear brand with her Fenty by Puma project, which she followed with a push to other areas: beauty and lingerie, with plans to launch a luxury brand with LVMH Moët Hennessy Louis Vuitton, have told sources to WWD.
Gomez, which has 148 million followers on Instagram, added a range of clothing to its Puma partnership at the end of last year, launched via a video posted on the sportswear company's Instagram account, in which Gomez and five of her best friends mentioned the keywords that inspired inspiration.
The sporting goods industry as a whole will grow around 10 percent this year, according to analysts from the RBC Capital markets. The analysts expect that the "democratization" of Kanye West's Yeezy shoe line will be the cornerstone of Adidas' product strategy this year – away from the "scarcity" model that was previously linked to the line. West has been working with Adidas since 2013 after he left Nike due to a lack of royalties and because he couldn't produce as many sneakers as he wanted.
Following the rising success of the Stan Smith and Superstar sneakers in recent years, Adidas successfully navigated toward larger models last year, fueled by luxury brands such as Balenciaga and Louis Vuitton, analysts at HSBC said. The company's rapid response time, thanks to improved supply chains, helped it adapt to the trend that had surprised sportswear companies.
In a US survey conducted by HSBC in December last year, Adidas held number two after Nike as the favorite sportswear brand among wealthy consumers; in China, a February survey showed that Adidas sharpened for Nike.
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