Parkwood, Beyonce and Jay Z's company, has bought out Green's 50% share in athleisure brand Ivy Park.
Beyonce has moved to cut ties with embattled British businessman Philip Green, who is fighting allegations of workplace harassment and bullying, by buying out his share in her clothing label Ivy Park.
The pop superstar launched the Ivy Park range with Green’s Arcadia Group back in 2016, having announced their intention to collaborate two years before that on new athletic sportswear brand. Now, however, she’s bought back Green’s 50% share of the brand.
Topshop, which Green’s company owns, will therefore stop stocking the range of tops, sports bras and leggings with immediate effect.
On Thursday (November 15th), Ivy Park said in a statement: “After discussions of almost a year, Parkwood has acquired 100% of the Ivy Park brand. Topshop/Arcadia will fulfil the existing orders.”
Beyonce has severed ties with Green with the buy-out
A spokesperson for Topshop later confirmed that the transaction of Green’s share to Ivy Park had taken place.
The statement implies that Beyonce had been thinking of this buy-out long before the recent allegations made against Green, but campaigners had been putting pressure on her to sever ties with him and his businesses.
Yasmeen Hassan, from the campaign group Equality Now, 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.”
Sir Philip Green is facing allegations of misconduct in the workplace
Claims over Green’s behaviour emerged in October when Labour peer Lord Hain, utilising parliamentary privilege, revealed that the businessman had obtained an interim injunction against the Daily Telegraph, after the newspaper attempted to publish allegations of misconduct made by five former employees.
Green says he “categorically and wholly” denies the allegations of sexual harassment and racist abuse, saying any remarks had been “banter”. He has insisted that “there was never any intent to be offensive”.
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