Adidas share price up 2% after partnership with Beyoncé
The shoe company has partnered with the music superstar for a new clothing line.
Adidas share price rose 2% after announcing a new partnership with music superstar Beyoncé. The shoe company will sell the singer’s Park Ivy athleisure brand and she will be a creative director for the corporation as well.
Why did Beyoncé partner with Adidas?
Beyoncé is partnering with the German corporation to relaunch her Park Ivy line and expand her powerful brand. She and Adidas will also create a new shoe and apparel brand as well. The singer explained her enthusiasm for the collaboration in a statement.
‘This is the partnership of a lifetime for me. Adidas has had tremendous success in pushing creative boundaries. We share a philosophy that puts creativity, growth and social responsibility at the forefront of business. I look forward to re-launching and expanding Ivy Park on a truly global scale with a proven, dynamic leader,’ said Beyoncé.
Adidas builds its superstar roster
Adidas noted in a statement that the company ‘respects Beyoncé's ownership of her company which continues her journey as one of the first black women to be the sole owner of an athleisure brand’.
‘Neither ascribes to the typical stereotypes of athletes and what athleisure clothing and footwear should be, and instead, will bring to life a shared vision of inclusion that will forever alter the opportunities and landscape for all,’ added the athletic shoe company.
While rival Nike focuses on star athletes to draw customers, Adidas is hoping celebrities like Beyoncé and Kanye West will attract consumers. West’s Yeezy shoes have been a success for the corporation. Adidas hopes that Beyoncé’s success in music will translate to athletic fashion, too.
The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer.
Act on share opportunities today
Go long or short on thousands of international stocks with CFDs.
- Get full exposure for a comparatively small deposit
- Trade on spreads from just 0.1%
- Get greater order book visibility with direct market access
See opportunity on a stock?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Take your position
- See whether your hunch pays off
See opportunity on a stock?
Don’t miss your chance – upgrade to a live account to take advantage.
- Trade a huge range of popular stocks
- Analyse and deal seamlessly on fast, intuitive charts
- See and react to breaking news in-platform
See opportunity on a stock?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
