Beyonce buys out Ivy Park clothing line from Philip Green

Beyonce has bought out Philip Green from her Ivy Park line after
allegations of his sexual misconduct. Beyonce had teamed with the
billionaire owner of the Arcadia group in 2014 to create her popular
athletic streetwear line, which ultimately launched in 2016 via the
Arcadia Group’s Topshop.

The ownership of Ivy Park was originally a 50-50 split, however
Beyonce’s company Parkwood has now bought Greens 50 percent share for
an undisclosed amount. Green’s reputation has spiraled downwards since
he was accused of harassment, sexual misconduct and racism last month,
however both parties insist that discussion of this deal predate
Green’s accusations.

The Ivy Park brand said in a statement: “After discussions of
almost a year, Parkwood has acquired 100 percent of the Ivy Park brand.
Topshop/Arcadia will fulfil the existing orders.”