by Cathy Drummond
According to CNBC.com, Beyonce relaunches Ivy Park with Adidas collaboration. The Pop Star has teamed with Sneaker Company Adidas to relaunch her own brand of Athleisure Wear titled “Ivy Park.”
Beyonce’ originally launched Ivy Park with Top Spot in 2016. The Multimillionaire Pop Icon decided to part ways with Top Spot because of Sexual Harassment allegations against the company’s owner, Robert Green. According to CNBC.com, the owner, Robert Green, had a partial stake in the Singer’s debut clothing line. However, Beyonce’ bought back the stock. And with that buy back Beyonce’ has full ownership of “Ivy Park.” The Singer says, “it is a dream come true . . ..”
And, because of this full ownership of her line, Beyonce’ has become the first African American to own her own Athleisure line. Accordingly along with her 133 million followers on Instagram, she is expected to do well. This is what Adidas is “banking” on. The Celebrity’s status of the Superstar to propel the company’s (growth.) A model used before by Adidas and other Sneaker brands, as well.
Other Sneaker Brand companies like Nike, Reebok, and Converse. The list of Sneaker Brands and Celebrity unions are well known. Michael Jordan branding comes front and center. Today’s NBA is a smorgasbord of Sneaker Brand envy. Professional Football is yet not as prevalent, but Reebok, Adidas, and Under Armor Sporting brands all have a stake in the sport. However, this is the first instance a notable woman of African American descent has launched her own (owned) brand of clothing with a (Sneaker) Giant, like Adidas.
According to Investopedia.com, companies used this type of celebrity branding to reach a specific set of demographics. Marketing to people the company sees as profit. Companies tend to attract buyers by using celebrities who the company sees as attractive, credible, popular, and trustworthy.
Citing CNBC.com, the marketing approach for Ivy Park is this. To create “Brand Heat.” Accomplished by low volume supply, high priced items. Initial expectations for the Ivy Park brand are for the smaller than Yeezy. Yeezy is another Celebrity branding carried by Adidas. However, given time Ivy Park is expected to see significant growth potential.
According to the Hollywood Reporter, Beyonce’s Ivy Park is a “gender neutral” clothing collection. The primary colors are orange to maroon. The clothing sizes will range from XS – XL. Jumpsuits, Cargo Pants, Asymmetric Dresses, Coats, Hoodies, and Biker Shorts are some clothing choices in the line. Footwear will also be sold. Pricing will range from as low as $25 up to $250.