Money - International
Beyoncé buys out clothing venture from UK’s Philip Green
In this file photo taken on September 17, 2017, Philip Green, is pictured before the start of the Topshop catwalk show for the SpringSummer 2018 collection on the third day of The London Fashion Week Womens in London. u00e2u20acu201d AFP pic

LONDON, Nov 15 — US singer Beyoncé has bought the Ivy Park fitness clothing brand launched two years ago with British retail tycoon Philip Green, who has faced allegations of sexual harassment.

"After discussions of almost a year, (Beyoncé’s) Parkwood has acquired 100 per cent of the Ivy Park brand,” Ivy Park said in a statement.

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It said Green’s Topshop and Arcadia businesses will fulfil existing orders to Ivy Park. No financial details were disclosed.

Ivy Park sells items such as hoodies and leggings, part of a trend towards so called athleisure. Beyonce, who is married to rapper Jay-Z, has a six-year-old daughter called Blue Ivy.

Green’s representative referred to the Ivy Park statement, without further comment. A representative of Beyoncé could not be reached for additional comment.

The deal was first reported in the Financial Times.

Green, one of Britain’s best known businessmen, was named in parliament last month as having taken legal action to prevent publication of allegations of sexual harassment and racial abuse of staff.

In a statement last month Green denied having broken the law and said his businesses fully investigated employee grievances. — Reuters

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