"This is the partnership of a lifetime for me," says Beyoncé in a release. "Adidas has had tremendous success in pushing creative boundaries. We share a philosophy that puts creativity, growth and social responsibility at the forefront of business. I look forward to re-launching and expanding Ivy Park on a truly global scale with a proven, dynamic leader."
Though there are few details available yet about what the relaunch will entail, the release shares that Beyoncé and Adidas see themselves as aligned around the values of "women in leadership, shared ownership, empowerment and collaboration." Beyoncé will officially serve as a creative partner for Adidas and will be developing signature footwear and apparel in that capacity.
Could the Adidas partnership do for Beyoncé what it did for Kanye West and Yeezy, helping her create a brand as iconic as she herself is? Only time will tell. For now, though, it's an understandingly exciting partnership for both involved parties.
"Beyoncé is an iconic creator but also a proven business leader, and together, we have the ability to inspire change and empower the next generation of creators," said Adidas executive Eric Liedtke.
UPDATE, Fri. May 3, 10:20 a.m.: During an earnings call on Friday morning, Adidas revealed that the global athletics brand will release its first run of products in collaboration with Beyoncé at the end of the year.
CEO Kasper Rorsted noted during the call's Q&A portion that while the highly-anticipated partnership's debut won't have a substantial impact on revenue this year, it will likely help accelerate Adidas's positioning in the women's wear space — a market that Rorsted sees as "an underrepresented part of our business."
"We're by no means where we need to be," says Rorsted. "There's no doubt Beyoncé will help us. Stella McCartney was a great first step, but Beyoncé has a reach that's unique almost to any other female person in the world."
Indeed, upon collaboration's announcement in April, Adidas experienced over one billion media impressions and "strong positive reactions across social channels."