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There can be no summer time renaissance for Beyoncé and Adidas this yr … the 2 powerhouses have mutually agreed to half methods.
The Wall Road Journal experiences Beyoncé’s customized clothes line Ivy Park fell WAY under its 2022 gross sales projections of $250 mil … solely bringing in roughly $40 mil to shut out the yr.
These numbers have been additionally significantly decrease than 2021’s tally of $93 million … and recent advertising campaigns with celebs akin to Irina Shayk, Yara Shahidi, Megan Thee Stallion and present hip hop it-girl Ice Spice weren’t in a position to rouse the general public’s curiosity on the money register.
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Earlier than reducing ties, 2023’s projections have been shifted from $335 mill to $65 mill. Beyoncé’s contract is completed on the finish of the yr however remains to be on observe to earn her $20 mil annual wage.
What’s additionally attention-grabbing in regards to the cut up is Beyoncé is ready to embark on her Renaissance World Tour … which may’ve introduced in large merch gross sales for Ivy Park.
The information spells extra shaky floor for Adidas … they’re additionally anticipating a loopy $1.3 billion loss in gross sales this yr following Kanye West‘s deflection.
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