Girls run the world, and Beyoncé now runs her company in full.
The singer, 37, has bought back Ivy Park, the fitness brand she helped launched two years ago, from British billionaire Philip Green. The tycoon, 66, owns fast fashion giant Topshop and is currently facing allegations of sexual harassment, bullying and racism.
“After discussions of almost a year, [Beyoncé’s] Parkwood has acquired 100 percent of the Ivy Park brand,” Ivy Park said in a statement.
Green’s Topshop, whose parent company the Arcadia Group reportedly owned half of Ivy Park, will fulfill any existing orders for the brand, which offers hoodies, leggings and other athleisure staples.
Moving forward, fans can continue to purchase Ivy Park clothing on the label’s website, but it’s unclear whether Beyoncé will shop her brand around to other retailers.
The Financial Times was the first to report the deal; no financial information was released.
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