Beyoncé buys out Ivy Park enterprise from Sir Philip Inexperienced

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Beyonce and Philip Green

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Beyoncé has ended a enterprise enterprise with Topshop boss Sir Philip Inexperienced by shopping for him out of Ivy Park, the gymwear label they based collectively.

The pair launched Ivy Park two years in the past, enjoying on the non-public model of the US singer and outspoken feminist.

The buyout comes weeks after Sir Philip was named as having taken authorized motion to forestall publication of allegations of sexual harassment of employees.

Sir Philip says he “categorically and wholly” denies the allegations.

Nonetheless, Beyoncé had confronted stress from campaigners to chop ties.

In a press release on Thursday, Ivy Park stated: “After discussions of just about a yr, Parkwood has acquired 100% of the Ivy Park model. Topshop – Arcadia will fulfil the prevailing orders.”

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Ivy Park sells gadgets resembling hoodies and leggings, a part of a development in direction of so referred to as athleisure.

Beyoncé and Sir Philip had each owned 50% stakes within the label, which is called after the singer’s daughter with rapper Jay Z, Blue Ivy.

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Getty Pictures

Sir Philip, one in all Britain’s greatest recognized businessmen, was named in parliament final month by Lord Hain as the person behind a court docket injunction stopping the publication of allegations of sexual harassment and racial abuse of employees.

In a press release final month, he denied having damaged the regulation and stated his companies absolutely investigated worker grievances.

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Nonetheless, marketing campaign Equality Now had referred to as for Beyoncé to finish her relationship with the tycoon, arguing it was at odds together with her acknowledged rules.

Yasmeen Hassan, from the marketing campaign group, stated in October: “Beyoncé has put herself ahead as a girls’s rights activist. She and her group have to look carefully at these allegations.”

One other activist, Nimco Ali, stated: “Beyoncé ought to say ‘I do not need to work with Philip Inexperienced’.”

A consultant of Sir Philip wouldn’t remark additional on the Ivy Park deal, whereas Beyoncé couldn’t be reached for added remark.

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