U.S. Markets closed

Adidas Signs Beyoncé, Will Relaunch Ivy Park Line, Create Signature Shoe, Apparel

Brett Hershman

Adidas AG (ADR) (OTC: ADDYY) has added another music superstar to its roster.

The German brand announced Thursday that Beyoncé and Adidas are launching a multilayered partnership that makes the music icon a creative partner for the company.

"This is the partnership of a lifetime for me," Beyoncé said in a statement. 

"Adidas has had tremendous success in pushing creative boundaries. We share a philosophy that puts creativity, growth and social responsibility at the forefront of business. I look forward to relaunching and expanding Ivy Park on a truly global scale with a proven, dynamic leader."

The partnership will result in the development of new signature footwear, apparel and the relaunch of Beyonce’s Ivy Park brand under Adidas.

Eric Liedtke, an executive board member at Adidas, said the company challenges the status quo and pushes creative limits using an open source approach.

"Beyoncé is an iconic creator but also a proven business leader, and together we have the ability to inspire change and empower the next generation of creators," he said in a statement. 

Although Adidas has significant momentum in North America, Beyonce has the ability to singlehandedly bring a brand back to relevance, arguably resurrecting a left-for-dead FILA in 2017. 

Beyonce joins a loaded Adidas roster of non-athletes that includes Kylie Jenner, Kanye West and Pharrell.

Related Links: 

Wedbush: Nike's Increased Mid-Market Focus Bodes Well For Shoe Carnival, Famous Footwear

Marketing Over Merchandise? This Shoe Expert Says, 'If I Were Nike, I Would Not Sign Zion Williamson'

Photo by Asterio Tecson/Wikimedia.

See more from Benzinga

© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.