Topline
Beyoncé is partnering with French fashion brand Balmain and designer Olivier Rousteing on a 16-outfit collection dubbed a “wearable album,” the Grammy Award-winning artist announced Friday, one day after parting ways with clothing giant Adidas following plummeting revenue from her Ivy Park fashion line with Adidas.
Beyonce launched a clothing line with Balmain Friday, following her separation from Adidas.
Key Facts
The clothing line will be called “Renaissance Couture,” named after her July 2022 Grammy-winning album, Renaissance, which won for best dance and electronic album and received a nomination for album of the year.
Rousteing told Vogue France the collaboration consists of 16 run-way style outfits, designed “hand in hand with Beyoncé herself, dedicated to the album’s 16 tracks,” including checker-printed and shimmering gowns and headpieces, with one appearing like a chandelier.
Beyoncé thanked Balmain and Rousteing in an Instagram post “for bringing RENAISSANCE to life in couture” and “allowing me to celebrate the human form, to take artistic risks, to push boundaries and to freely express myself.”
In a tweet, Balmain called the line a “one-of-a-kind couture collection” inspired by Renaissance and co-created “in collaboration with the muse herself.”
Beyoncé’s last collaboration with Balmain and Rousteing came in 2018, a custom three-piece collection she first showcased while headlining the California music festival Coachella.
Key Background
Beyoncé, a 32-time Grammy Award winner, initially launched Ivy Park with Topshop as an activewear clothing line in 2016. She became the sole owner of the brand in 2018, before collaborating with Adidas on it in 2019. This week, however, she parted ways with the German sports apparel giant, reportedly saying she would “reclaim her brand,” after 2022 sales of Ivy Park dropped by more than 50% to $40 million, falling well under Adidas’ $250 million projection. It was also less than half the $93 million in sales Ivy Park pulled in in 2021 (Adidas had projected making $63 million in sales from the collection this year).
Forbes Valuation
We estimate Beyoncé’s net worth at $450 million, making her the 80th on Forbes’ 2022 list of the world’s most powerful women and the 61st riches on Forbes’ list of American Self-Made Women.
Further Reading
Adidas And Beyonce Part Ways After $200 Million Sales Projections Miss (Forbes)
Beyoncé’s Ivy Park Adidas Clothing Line Is Reportedly Losing Money For Sportswear Brand (Forbes)
Beyoncé is the superstar of the April 2023 edition of Vogue France (Vogue France)
Source: https://www.forbes.com/sites/brianbushard/2023/03/24/beyonc-launches-renaissance-couture-wearable-album-line-with-balmain-after-leaving-adidas/