Beyoncé now owns her Ivy Park brand entirely. The “Apesh*t” singer brought out the rest of Topshop’s 50% stake in the company due to allegations of sexual misconduct by the British brand’s co-founder.
Sir Philip Green is battling accusations of bullying and sexual harassment, and Bey wanted no parts of that struggle.
Reports the Guardian:
The singer’s company Parkwood has bought out the British tycoon’s 50% share in Ivy Park, the clothing label she launched with Green’s Arcadia Group in 2016.
Ivy Park said in a statement: “After discussions of almost a year, Parkwood has acquired 100% of the Ivy Park brand. Topshop/Arcadia will fulfil the existing orders.” A spokesperson for Arcadia Group confirmed the transaction.
Beyoncé and Green first announced in 2014 that they were teaming up to design an athletic streetwear brand and the first Ivy Park range went on sale at Topshop two years later. The first range of tops, sports bras and leggings was modelled by Beyoncé herself.
Green was accused of sexual misconduct last month and he vehemently denies the “sexual harassment and racist abuse” he stands accused of. However, current and past employees of his Arcadia Group are spilling all the tea.
And that was enough for Bey to cut ties and keep it moving.