Beyoncé buys out Ivy Park from Topshop after British owner is hit with #MeToo allegations
Beyoncé is not going to let anything associated with her name be dragged in these streets. It appears she is taking a stand for the #MeToo movement by severing ties with Topshop after allegations of racism and sexual harassment by the company’s owner Sir Philip Green arose in October.
In 2016, the brand, which includes different designs of leggings, sports bras, and hoodies, was launched at Green’s Topshop retail chain, and in 2017 it reportedly had a turnover of $23 million with losses around $3.5 million.
Since day one, the popular athleisure label has always been a 50-50 partnership between Bey’s company, Parkwood, and Green’s company Arcadia Grouptaking. Now, the entirety of it belongs to Parkwood.
This year, UK publication, The Telegraph revealed that it had spent eight months investigating allegations of bullying, intimidation and sexual harassment made against the British businessman. During the investigation five members of his staff claimed to have knowledge that victims had been bribed with “substantial sums” so that they would keep silent about the salacious encounters.
Former British cabinet minister, Peter Hain, also came forward saying he felt it was his duty to name Green, given the “serious and repeated” nature of the allegations against him. While many are speculating that Beyonce’s camp was pressured into distancing itself from the billionaire in response to the scandal, her team has issued a statement that claims this separation was already in the works well before the scandal.
According to the statement by Ivy Park, “After discussions of almost a year, Parkwood has acquired 100% of the Ivy Park brand. Topshop-Arcadia will fulfill the existing orders.”
Sir Philip Green has also “categorically and wholly” denied allegations of “unlawful sexual or racist behavior.”
Prior to these allegations, Ivy Park faced criticism for using sweatshop labor to create it’s clothing – with workers reportedly earning as little as 64 cents an hour. In light of the split from Topshop, there are hopes that Arcadia’s inhumane factories will no longer be used to create the collections, and that Parkwood will seek more ethical working environments.
Beyonce's Parkwood has acquired 100% of the #IvyPark brand. She bought back Sir Philip Green's share in their clothing venture,
Sir Phillip green is accused of of inappropriate conduct, including harassment and racial abuse.
" I see it, I want it, I work hard, I own it."–B pic.twitter.com/nvm7EqAwtw
— Letisha Bereola (@LetishaANjax) November 15, 2018