Beyoncé and Adidas mutually agree to end partnership.

Beyoncé and Adidas have mutually agreed to end their business partnership after a significant decline in sales for Beyoncé's custom clothing line, Ivy Park. Despite marketing campaigns with various celebrities, the line only brought in $40 million in sales in 2022, far below its projected $250 million. Before cutting ties, 2023's projections were shifted from $335 million to $65 million. Beyoncé's contract is set to end at the end of the year, but she will still earn her $20 million annual salary.