Beyoncé has bought-out the 50 per cent share Sir Philip Green held in Ivy Park, the athleisure label they founded together. The pair launched Ivy Park two years ago, with each owning a 50 per cent stake in the label, which is named after the singer’s daughter with rapper Jay Z, Blue Ivy.
In a statement on Thursday, Ivy Park said: “After discussions of almost a year, Parkwood has acquired 100% of the Ivy Park brand. Topshop – Arcadia will fulfil the existing orders.”
The news comes after Green was named as the businessman at the centre of a row over allegations of misconduct and non-disclosure agreements.
It’s alleged that Green placed a legal injunction on a newspaper from publishing reports that he sexually harassed, bullied and racially abused staff.
Green has denied the allegations, however, as the controversy dragged on and more allegations of his behaviour emerged, Beyonce fans urged her to end the business partnership with Green.
Following the buy-out, Ivy Park now operates solely under Parkwood and is available online and at Selfridges, Topshop and Net-a-Porter.
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