Beyoncé has acquired 100% control over her Ivy Park activewear collection, after buying Sir Philip Green’s share of the business.
US superstar Beyoncé founded activewear brand Ivy Park in 2014, teaming up with the Arcadia boss to launch the debut collection in Topshop in 2016.
A statement from Beyoncé’s company, Parkwood, seen by The Daily Mail, confirms that it has bought Green’s share of the business for an undisclosed sum, meaning Parkwood now owns the entire Ivy Park company.
Parkwood confirmed that Topshop and Arcadia would fulfill existing orders, and the brand will remain available at Topshop, as well as stockists including JD Sports and Selfridges.
The company insisted that the sale had been under discussion for “almost a year” and was not related to recent controversy surrounding Green.
Last month, Green was named in parliament as the businessman behind an injunction against the Daily Telegraph, which stopped the newspaper naming him in a report into allegations of bullying, racism and sexual harassment. Green has denied the allegations.