Last month it was reported that Adidas made $210 million less than they projected on Beyonce’s Ivy Park line in 2022.
They had been paying Bey $20 million a year since 2018 to license her brand.
They won’t be doing that going forward.
Today, in a joint announcement, Adidas and Beyonce said they are ending their relationship due to “creative differences.”
Bey further framed it as a chance to reclaim her brand, chart her own path and maintain creative freedom.
While losing a couple of hundred million on Beyonce is bad, it’s not as bad as the billion Adidas has lost on Kanye and his big mouth.