Adidas is teaming up with pop star Beyoncé Knowles to develop footwear and clothing as the sportswear group tries to boost sales in the face of fierce competition from Nike, Puma and Lululemon. Beyoncé will become a "creative partner" of the €45bn (about R713bn) Germany-based company, the latest in a series of deals between pop superstars and the world's biggest consumer brands. The feminism advocate launched her "athleisure" venture, Ivy Park, about three years ago with Philip Green, the British retail tycoon behind Topshop. He has since been the subject of racial abuse and sexual harassment claims, which he denies. Green relinquished his stake to Beyoncé last year. In a statement on Thursday, Beyoncé said she was "relaunching and expanding" Ivy Park - whose offerings include hoodies priced at more than $200 (about R2,820) - on a "global scale" with Adidas. "This is the partnership of a lifetime for me," she said. Adidas said the deal "respects Beyoncé's ownership of her company". ...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.