Beyoncé is partnering with Topshop to launch a new brand in a joint venture
A 50-50 partnership on a new label
Beyoncé Knowles, businesswoman, and London-based high street fashion giant, Topshop, have formed a 50-50 joint venture company, 'Parkwood Topshop Athletic Ltd.', and it's going to produce an athletic streetwear brand, perhaps even set to launch in stores as early as next autumn.
The brand has already made headlines today for enlisting a set of chic, fashion forward faces for its latest campaign, which is coinciding with the launch of Topman in New York.
"This not a collaboration. This is about building a brand and building a business – a separate, proper business, with separate overhead and a separate office," said famous Topshop owner Sir Philip Green.
Asked how the deal came about, he explained, "Basically, when she was in London in February we arranged to get together. We started talking generally, about doing something together. We've been looking at that [athletic] sector for a while. It's something we need to be in. Based on what she does, how she works out, the conversation got into that category. We started getting into proper conversation in May or June, as to how it would work. It took six or eight weeks to put a deal together. On Friday, Beyoncé came to our office for the last piece of the jigsaw puzzle."
"I have always loved Topshop for their fashion credentials and forward thinking," Beyoncé said, continuing that she would work with the product development team Topshop puts in place to, "create and produce a technical and fashion-led collection" and "participate in all aspects of the partnership."
Beyoncé becomes Topshop's vehicle to enter activewear, currently one of retail's most exciting categories. Green also made a point of commenting on the social-media potential of the project; Beyoncé has 19 million followers on Instagram, while Topshop has 3.2 million.
Beyoncé wearing Topshop
The office and team for the venture are likely to be based in New York, with plans to hire someone to run the joint venture, as well as a creative director, and two designers – one sports-related who understands the technical aspect of workout-wear, such as stretch and wicking; the other, a fashion designer.
The collection will encompass clothing, footwear and accessories across dance, fitness and sports categories. It will have technical performance characteristics as well as an "ath-leisure" side, targeting women who go to yoga or the health club, as well as those who just want to look like they do...
Beyoncé wearing Topshop
The deal is expected to be officially unveiled by Topshop in London today.