Beyoncé has bought out her Ivy Park clothing line.
The 37-year-old singer launched her activewear clothing brand two years ago in collaboration with British retailer Sir Philip Green – who owns clothing store Topshop – but she has now bought out his share of the company to hold 100 percent of Ivy Park herself.
Ivy Park said in a statement: “After discussions of almost a year, [Beyoncé’s] Parkwood has acquired 100 percent of the Ivy Park brand.” The brand revealed Green’s Topshop and Arcadia businesses will fulfill existing orders to Ivy Park, and no financial details were disclosed.
Ivy Park was launched in 2016 and sells items such as hoodies and leggings, which are marketed as athleisure clothes, meaning they can be worn as gym wear or casual wear.
For Green, the news comes as he’s currently battling allegations of harassment and bullying, which emerged last month after he was accused of obtaining an injunction against a news outlet to stop them publishing allegations of misconduct made by five employees.
Green has denied the allegations, saying any remarks had been “banter” and has insisted “there was never any intent to be offensive”.
He said: “I’m very, very upset. I’m being used as target practice. It’s injuring my business, all the people potentially working in the business, and it’s injuring me and my family. There has obviously from time to time been some banter and a bit of humor, but as far as I’m concerned there was never any intent to be offensive. If anything I’ve said has caused offense, I’m happy to apologize. Nothing I’ve said was ever meant to be offensive.”