Beyonce has severed business ties with retail mogul Philip Green after he was accused of sexual harassment, racism and bullying.
Last month (Oct18) the Topshop owner was named as the individual who had taken out an injunction against Britain’s Daily Telegraph newspaper to prevent them publishing a report alleging he had hushed up claims he sexually harassed and racially abused staff.
His firm owned half of Beyonce’s Ivy Park athletic streetwear brand, which was sold in Topshop, but after criticism from fans her team has confirmed the superstar has bought out the shamed tycoon’s share of the business and cut ties with him.
“After discussions of almost a year, Parkwood has acquired 100 per cent of the Ivy Park brand,” a representative of her management company Parkwood Entertainment told Britain’s Daily Mail newspaper. They added that Topshop will fulfil customers’ existing orders. For the moment, the activewear line is still available to buy in store and via the company’s website.
Beyonce launched the Ivy Park line in 2016, two years after she helped Philip open Topshop’s flagship New York store.
“I could not think of a better partner as I continue to grow the Parkwood business,” the 37-year-old mogul said in a statement at the time. “I have always loved Topshop for their fashion credentials and forward thinking.”
The Formation singer was just one of a number of stars who found themselves in the disgraced retail magnate’s orbit – as Kate Moss also designed several collections for Topshop, and he owned a stake in Simon Cowell’s Syco Entertainment firm.
The X Factor supremo recently branded his former business partner a “toxic figure” who he should never have involved in his business.
In 2016 Philip was strongly criticized by U.K. politicians for alleged tax avoidance and for selling another of his retailers, BHS, when its pension fund had a deficit of $729 million.
