Register to get 1 free article
Reveal the article below by registering for our email newsletter.
Want unlimited access? View Plans
Already have an account? Sign in
Beyonce has bought Philip Green out of the athleisure clothing line Ivy Park which was co-founded by Topshop, meaning the brand will no longer be sold in the store.
The announcement of the collaboration was first announced in 2014 and in 2016, the range was launched in Topshop stores worldwide.
Parkwood Entertainment – the management and entertainment company founded by Beyonce – now owns 100% of the Ivy Park line after purchasing Green’s 50% stake for an undisclosed sum. A spokesperson for Parkwood Entertainment told Retail Sector: “After discussions of almost a year, Parkwood has acquired 100% of the Ivy Park brand. Topshop/Arcadia will fulfil the existing orders.”
Last month, Lord Peter Hain used parliamentary privilege to name Green as the businessman who took out an injunction on The Telegraph, blocking them from reporting on allegations of sexual harassment, bullying and racial abuse against the retail tycoon.
Green went on to “categorically and wholly” deny the allegations. He released a statement which said: “Arcadia and I take accusations and grievances from employees very seriously and in the event that one is raised, it is thoroughly investigated.
“Arcadia employs more than 20,000 people and in common with many large businesses sometimes receives formal complaints from employees. In some cases these are settled with the agreement of all parties and their legal advisers. These settlements are confidential so I cannot comment further on them.”
Retail Sector has approached Topshop for comment.
