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Beyoncé buys out Ivy Park venture from Sir Philip Green | Beyoncé buys out Ivy Park venture from Sir Philip Green |
(35 minutes later) | |
Beyoncé has ended a business venture with Topshop boss Sir Philip Green by buying him out of Ivy Park, the gymwear label they founded together. | Beyoncé has ended a business venture with Topshop boss Sir Philip Green by buying him out of Ivy Park, the gymwear label they founded together. |
The pair launched Ivy Park two years ago, playing on the personal brand of the US singer and outspoken feminist. | The pair launched Ivy Park two years ago, playing on the personal brand of the US singer and outspoken feminist. |
The buyout comes weeks after Sir Philip was named as having taken legal action to prevent publication of allegations of sexual harassment of staff. | The buyout comes weeks after Sir Philip was named as having taken legal action to prevent publication of allegations of sexual harassment of staff. |
Sir Philip says he "categorically and wholly" denies the allegations. | Sir Philip says he "categorically and wholly" denies the allegations. |
However, Beyoncé had faced pressure from campaigners to cut ties. | However, Beyoncé had faced pressure from campaigners to cut ties. |
In a statement on Thursday, Ivy Park said: "After discussions of almost a year, Parkwood has acquired 100% of the Ivy Park brand. Topshop - Arcadia will fulfil the existing orders." | In a statement on Thursday, Ivy Park said: "After discussions of almost a year, Parkwood has acquired 100% of the Ivy Park brand. Topshop - Arcadia will fulfil the existing orders." |
Ivy Park sells items such as hoodies and leggings, part of a trend towards so called athleisure. | Ivy Park sells items such as hoodies and leggings, part of a trend towards so called athleisure. |
Beyoncé and Sir Philip had both owned 50% stakes in the label, which is named after the singer's daughter with rapper Jay Z, Blue Ivy. | Beyoncé and Sir Philip had both owned 50% stakes in the label, which is named after the singer's daughter with rapper Jay Z, Blue Ivy. |
Sir Philip, one of Britain's best known businessmen, was named in parliament last month by Lord Hain as the man behind a court injunction preventing the publication of allegations of sexual harassment and racial abuse of staff. | |
In a statement last month, he denied having broken the law and said his businesses fully investigated employee grievances. | In a statement last month, he denied having broken the law and said his businesses fully investigated employee grievances. |
However, campaign Equality Now had called for Beyoncé to end her relationship with the tycoon, arguing it was at odds with her stated principles. | However, campaign Equality Now had called for Beyoncé to end her relationship with the tycoon, arguing it was at odds with her stated principles. |
Yasmeen Hassan, from the campaign group, said in October: "Beyoncé has put herself forward as a women's rights activist. She and her team need to look closely at these allegations." | Yasmeen Hassan, from the campaign group, said in October: "Beyoncé has put herself forward as a women's rights activist. She and her team need to look closely at these allegations." |
Another activist, Nimco Ali, said: "Beyoncé should say 'I don't want to work with Philip Green'." | Another activist, Nimco Ali, said: "Beyoncé should say 'I don't want to work with Philip Green'." |
A representative of Sir Philip would not comment further on the Ivy Park deal, while Beyoncé could not be reached for additional comment. | A representative of Sir Philip would not comment further on the Ivy Park deal, while Beyoncé could not be reached for additional comment. |