Beyonce has bought over the Ivy Park fitness clothing brand. The clothing brand was launched two years ago by British retail tycoon Philip Green, who is facing allegations of sexual harassment.
The American singer who is married to rapper Jay Z has a six year old daughter named Blue Ivy.
Ivy Park in a statement issued said: “After discussions of almost a year, (Beyoncé’s) Parkwood has acquired 100 percent of the Ivy Park brand “.
No financial details of the transaction has been disclosed but Ivy Park has disclosed that Green’s Topshop and Arcadia businesses will fulfill all existing orders to the clothing brand.
Ivy Park clothing brand sells items like leggings and hoodies, part of a trend toward so called athleisure.
A representative of Beyonce could not be reached for additional comment; and Green’s representative referred to statement issued by the clothing brand.
Philip Green, one of Britain’s most popular businessmen has been in the eye of the storm after being named in parliament last month, as having used legal action to prevent publication of allegations of racial abuse of staff and sexual harassment.
Green in a statement last month has however denied breaking any law; saying all employee grievances were fully investigated by his businesses.
Beyonce and Jay Z are two of the biggest artists in the world; and in addition to music are involved in other businesses. Together they have three children.