Beyoncé Bought Ivy Park From Topshop
While Rob Kardashian is out here getting bailed out by his mama, Beyoncé herself has bought her activewear brand Ivy Park back from the Arcadia Group Ltd. That shit is now 100% owned by Beyoncé and not a damn person in the world can say anything about it. Especially the Arcadia chairman, Philip Green, who is currently under investigation for sexual and racial harassment. In 2018 if your CEO or someone isn’t being investigated for being racist or sexist, are you even in business?
Variety is reporting that Our Queen of Overpriced Concert Tickets has taken her company back. People had been asking Beyoncé to drop her connections to the Arcadia Group after former British cabinet minister, Peter Hain, reported that Green was being investigated. It seems like the Beygency did their own investigating and their conclusion was “Buy the bitch out, girl”. So Beyoncé reached into Blue Ivy‘s coin purse, picked out a few dollars and tossed it Arcadia’s way.
Parkwood Entertainment, Beyoncé’s company which used to own 50% of Ivy Park, now owns the full monty. On Thursday Parkwood released a statement about it, making sure not to mention their previous partner was being investigated for allegedly being a racist pervert:
“After discussions of almost a year, Parkwood has acquired 100% of the Ivy Park brand. Topshop-Arcadia will fulfill [sic] the existing orders.”
It’s not a great time to be a monetarily successful-yet-socially scandalous chairman of a huge company, as Simon Cowell also just stopped Philip from holding shares in his Syco Entertainment company.
This guy got off easy. You cannot besmirch the Beyoncé brand–I mean name–without consequence. He’s just lucky his consequence was getting bought out, because when you cross Beyoncé there are worse fates. Ask her drummer. Philip better hide his pets and cleanse his aura with some sage, honey.
And if things turn out bad for Philip legal-wise, his daughter is the one who got on that sexy Prison Bae, so he can get tips for how to act if he gets thrown in the British prison, which I imagine has a few less gangs and much more tea.
Pic: Ivy Park