Beyoncé is set to revive Adidas footwear sales with a new deal
HOUSTON, TX - SEPTEMBER 15: Beyonce performs onstage during the 'On the Run II' Tour at NRG Stadium on September 15, 2018 in Houston, Texas. Beyoncé has taken her talents to Adidas for the relaunch of her Ivy Park athleisure line. Additionally, Adidas said the music icon will be a “creative partner” for the brand. Adidas has been relying heavily on fashion and not so much on actual sports, during a time when urban culture continues to be sewn into corporate strategy.
This partnership with Beyoncé who wields 126 million Instagram followers, comes across as a strong influencer marketing move for Adidas. Valued at $1.07 billion, the influencer market is expected to more than double to $2.38 billion in 2019. Beyoncé fully owns Ivy Park after she bought our British retail tycoon Philip Green, who has faced allegations of sexual harassment. Adidas shares were up nearly 1.5% after the Beyoncé partnership announcement. Also, the German sportswear company has been making strides in North America with sales up 16% in its most recent quarter, cutting into Nike’s grip on the U.S. market.as an indicator of future success, Adidas could see e-commerce sales rise even higher.
Last fall, Adidas CEO referenced Yeezy’s as a highlight of the company’s recent performance, pointing to it as one of the driving forces behind Adidas’s huge 76% growth in e-commerce that quarter. The company’s top line increase was largely driven by double-digit improvements in direct-to-consumer revenues with particularly strong support from e-commerce, where rThe question remains whether dotting lines for influencers outside of sports can boost the company’s hype with non enthusiasts.
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