Beyoncé has taken full ownership of Ivy Park, the leisure and gym wear brand she created two years ago in partnership with Topshop owner Sir Philip Green.
The news comes just weeks after allegations of sexual harassment and racial abuse were made against Sir Philip, something he strongly denies. Sir Philip had taken out legal action to prevent the publication of the allegations, but he was named in Parliament by Lord Hain, the former Leader of the House of Commons.
Since the allegations were revealed, campaigners put Beyoncé under pressure to cut ties with the retail tycoon.
“After discussions of almost a year, Parkwood has acquired 100 per cent of the Ivy Park brand,” reads a statement from Ivy Park. “Topshop – Arcadia will fulfil the existing orders.”
Neither Sir Philip or Beyoncé have commented on the deal.