As of this month, Parkwood Entertainment (founded by Beyoncé) has become to sole owner of her athleisure line, Ivy Park. After Beyoncé’s former business partner, Philip Green, was accused of “sexual harassment, bullying and racial abuse of staff at his companies,” according to Billboard, the singer decided to cut ties with him.
PHOTO: Harper’s Bazaar
Sexual misconduct allegations arose about Green, a billionaire and owner of Arcadia Group (parent company to TopShop), in October along Green potentially using non-disclosures and “hush-money” to prevent the allegations from surfacing. While Green has denied all the alleged acts, Ivy Park released a statement saying:
“After discussions of almost a year, Parkwood has acquired 100 percent of the Ivy Park brand.”
Ivy Park also noted TopShop will fulfill any existing orders but it is still unclear whether the store will be carrying the brand after those fulfillments are made.
Ready. Set. Boss. Our daily email is pouring out inspiration with the latest #BlackGirlBossUp moments, tips on hair, beauty and lifestyle to get you on track to a better you! Sign up today.