Beyonce buys out Ivy Park From Topshop Tycoon Fighting Misconduct Claims.
Beyoncé has bought out the Ivy Park clothing line she co-founded with retail tycoon Philip Green, claiming back Topshop’s 50 percent stake, Financial Times reports. The move comes weeks after the Arcadia Group owner was publicly accused of sexual and racial harassment of staff. Campaigners had pressured Beyoncé to cut ties with Green.
Ivy Park said in a statement obtained by FT, “After discussions of almost a year, Parkwood has acquired 100% of the Ivy Park brand. Topshop-Arcadia will fulfill the existing orders.” Pitchfork has emailed Parkwood Entertainment representatives for further comment.