November 16, 2018
Photo by Kevin Winter/PW18/Getty Images for Parkwood Entertainment
Beyoncé has yet again made another boss move. She is now the sole owner of active wear and athleisure line, Ivy Park due to racial and sexual harassment claims made by Topshop owner Sir Philip Green.
The line that the icon co-founded and launched in 2016 was recently 100% bought out by her entertainment company, Parkwood from Green’s Arcadia Group Ltd. The two companies previously shared 50/50 custody of the clothing line. In other words, she bought back a whole 50% of shares from a major clothing distributor.
Let’s be real, whatever Bey touches turns to gold, so with her taking 100% ownership of Ivy Park is probably taking it to heights that Topshop couldn’t.
Although the mogul is no stranger to making money, she also isn’t shy about giving away. Earlier this year, she opened up a scholarship program for $100,000 to “one exceptional senior high school student” towards their college tuition.
In a statement by Ivy Park, the brand briefly mentioned the total acquisition and stated that Arcadia will fulfill the rest of the orders, as is:
“After discussions of almost a year, Parkwood has acquired 100% of the Ivy Park brand. Topshop-Arcadia will fulfill [sic] the existing orders.”
Green claims the comments he made, which were made public last month were only “banter,” but clearly Bey didn’t think so.
TELL US: What boss move should Beyoncé take next?
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