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Beyonce Buys Out Philip Green To Become Sole Owner Of Ivy Park

If you’ve always wondered why Top Shop sells so much of Beyonce’s Ivy Park line, it’s because the two companies shared an owner.

Who Is Philip Green?

Philip Green—the owner of Topshop, Topman and, until today, Ivy Park—has been accused of sexual misconduct and racial abuse toward staff members. While the allegations were under investigation, Green was granted a special court injunction by the British Parliament. The injunction assured that no British news outlets were able to talk about the situation. Green denies all of the allegations against him. Green is the Chairman of Arcadia Group, Ltd., which owns international clothing retailers such as Top Shop. Estimates show that Green carries a net worth around $4.7 billion USD.

When the story about Green broke just weeks ago, consumers began to urge Beyonce to sever ties with the billionaire in order to maintain the ethos of the brand. Beyonce—and, therefore, Ivy Park, are built on the foundation of feminist ideals and female empowerment. To have a company co-owned by a man with such severe accusations against him would eventually stifle the brand’s image greatly. Organizations like Equality Now began urging Mrs. Carter to distance her brand from Arcadia Group, Ltd. last month.

This week Beyonce listened to those critics and bought out Green’s 50% share of Ivy Park. This means that she now has full control of the clothing line. Until now, consumers were able to buy the full line in Topshop stores as well as online at the Ivy Park website. Though the line may not be available in Topshop starting—who knows—the company will reportedly fill any existing orders. Don’t worry; if you watched Lemonade again and came out of a trance-like haze while hitting “complete purchase” on a new Ivy park wardrobe on the Topshop website you’ll still get your order.

Ivy Park Is Familiar With Controversy

Ivy Park came under fire just last year when reports that the company was utilizing child labor in Sri Lanka surfaced. Allegations began surfacing in 2016 but didn’t fully come into fruition until 2017 when reports that the workers were making just $0.64 per hour hit the internet like a tidal wave. Most of the workers, reportedly, were women. Ivy Park denied the allegations until the scandal had run its course. It is unclear whether any changes in the company’s sources have been made.

Beyonce and her husband, rapper Jay-Z have made a fortune off of their side gigs in between making chart-topping albums. According to Time, the rapper is worth around $810 million. While Beyonce carries a net worth of around $350 million. The future for Ivy Park is uncertain at the moment. But with full control of the company Beyonce is sure to find a way to empty every millennial woman’s bank account do something special with the athleisure line.