Adidas has high expectations for new partnership with Beyoncé
Adidas is proud of the new partnership deal it recently signed with US pop star Beyoncé. The deal was announced in April, and Kasper Rorsted, CEO of the German sport group, gave more details on this major collaboration a few days ago, at the press conference for the publication of the group’s Q1 2019 results.
Rorsted said that Adidas, working with Beyoncé, will focus on developing women’s lifestyle and sport performance products. All of them will be co-branded, including those belonging to Beyoncé’s sportswear label Ivy Park. As Adidas had already indicated, the partnership will enable the US pop star to relaunch Ivy Park, which she founded in 2016.
The first products from the new collaboration, strictly on a limited-edition basis, will be available for sale at the end of 2019.
“The collaboration with Beyoncé is focused on women's products and is a great opportunity for us, since female customers are under-represented in our clientèle. Even if our share of sales to female customers has gradually grown, it is still below the level where it should be. There is no doubt that Beyoncé will help us in this respect,” said Rorsted.
“Stella McCartney was a first major step in this direction for us, and what we do with Stella is still significant, but Beyoncé’s worldwide reach as an international celebrity is, I would say, quite unique,” he added.
“I think that this partnership will strengthen our connection with female customers. However, its launch will not have an impact on our sales in 2019, as the first products will only be introduced at the end of the year, in limited quantities. But in terms of our future outlook, it will definitely boost our position with women,” concluded Rorsted, who does seem to have high expectations for the new partnership, seeing how strong its impact has already been, in terms of the buzz it is generating since it was announced last month.
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