Beyoncé reportedly decided to stop working with Arcadia Group CEO Sir Philip Green, her partner in Ivy Park, after allegations of sexual harassment were brought up against him.
The Beyoncé Collection’s official Twitter account shared the news on Thursday, writing, “Beyoncé has ended her joint venture with Sir Philip Green after allegations of racial abuse and sexual harassment, buying his 50 percent stake in Ivy Park. Parkwood Entertainment now owns the brand in full.”
Green was also accused of using non-disclosure agreements and hush money to prevent these allegations from surfacing. Green has denied all of the allegations.
In a statement, Ivy Park noted that Topshop stores will fulfill any existing orders for their clothing, but that the label was now separate: “After discussions of almost a year, Parkwood has acquired 100 percent of the Ivy Park brand.”
However, Ivy Park did not disclose the deal’s terms to the public.
Topshop is a British multinational fashion retailer of clothing, shoes, make-up and accessories with around 500 shops worldwide. In 2014, Beyoncé signed a deal to launch an activewear brand with Topshop. The 50-50 venture was initially called Parkwood Topshop Athletic Ltd and launched its first dance, fitness and sports ranges in April 2016. The brand was called Ivy Park.
By: Maytinee Kramer
