Beyoncé has assumed full ownership of athleisure brand Ivy Park after buying out the 50% stake controlled by Sir Philip Green, the British Topshop tycoon accused of sexual harassment and racial abuse.
Ivy Park was founded as a joint venture between Beyoncé’s Parkwood Entertainment and Green’s Arcadia Group, and the range has been sold in Topshop stores worldwide.
In a statement obtained by the BBC, a spokesperson said that “After discussions of almost a year, Parkwood has acquired 100% of the Ivy Park brand.
“Topshop – Arcadia will fulfil the existing orders.”
Last month, it was revealed that Arcadia employees had accused Green of workplace sexual harassment, homophobic comments, bullying, and racism, and that Green sought legal injunctions to keep the British press from reporting on those allegations.
Once the matter was raised under parliamentary privilege in the House of Lords, Green “categorically and wholly” denied the allegations outright, saying “there has obviously from time to time been some banter, but as far as I’m concerned that’s never been offensive.”
The allegations sparked calls for Beyoncé, an avowed feminist and longtime advocate for social justice, to end her business relationship with Green. Obviously, that’s now been put into action.
Neither Green nor Beyoncé herself have publicly commented on the deal.