ADDDF - Adidas and Beyoncé reportedly agree to part ways

2023-03-28 06:55:49 ET

German footwear and apparel giant Adidas AG ( OTCQX:ADDYY ) has lost a partnership with another American music star, according to reports on Tuesday.

Per the Wall Street Journal, the two parties have agreed to end their partnership following disappointing sales of the pop singer’s Ivy Park apparel brand. The outlet indicated that the partnership will conclude promptly upon the release of Ivy Park collections already planned for this year.

The Hollywood Reporter added that “major creative differences between Ivy Park and Adidas” also led to the rift. The decision to end the collaboration was reportedly mutual.

Shares of Adidas maintained a modest gain in the European afternoon session.

The report comes as the company continues to deal with the fallout of the sudden end of its partnership with Kanye West .

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