Singer Beyoncé has bought Sir Phillip Green out of her Ivy Park clothing line meaning the 37-year-old singer now owns 100 per cent of the activewear business. This comes after the Top Shop mogul sex pest scandal.
According to Daily Mail, Parkwood, Beyoncé’s company has said it paid an undisclosed sum to obtain Green’s share of Ivy Park.
The company insisted this wasn’t a decision taken in light of recent events and had been in discussion for almost a year.
In October, Green was named in parliament as the businessman at the centre of a ‘British #Metoo’ scandal. He has since “categorically and wholly” denied allegations of “unlawful sexual or racist behaviour”.
Beyoncé isn’t the only one to put some distance between themselves and Topshop, other popular ones are making the same moves.
Following Beyonce’s buy-out from Green, Ivy Park clothing will be stocked with Net A Porter, JD Sports and Selfridges.