Beyoncé cuts ties with Sir Philip Inexperienced and buys out Ivy Park share | Enterprise

Beyoncé has reduce her ties with Sir Philip Inexperienced, the Topshop tycoon who’s battling claims of harassment and bullying.

The singer’s firm Parkwood has purchased out the British tycoon’s 50% share in Ivy Park, the clothes label she launched with Inexperienced’s Arcadia Group in 2016.

Ivy Park stated in a press release: “After discussions of just about a yr, Parkwood has acquired 100% of the Ivy Park model. Topshop/Arcadia will fulfil the prevailing orders.” A spokesperson for Arcadia Group confirmed the transaction.

Beyoncé and Inexperienced first introduced in 2014 that they have been teaming as much as design an athletic streetwear model and the primary Ivy Park vary went on sale at Topshop two years later. The primary vary of tops, sports activities bras and leggings was modelled by Beyoncé herself.

Claims that Inexperienced acted inappropriately emerged final month when the Labour peer, Lord Hain, revealed that the businessman had obtained an interim injunction towards the Each day Telegraph after the newspaper tried to publish allegations of misconduct made by 5 workers. The billionaire has strongly denied the allegations of sexual harassment and racist abuse, saying any remarks had been “banter”. He has insisted that “there was by no means any intent to be offensive”.

Present and former workers of his Arcadia Group have alleged a local weather of concern, bullying and harassment on the firm. The Guardian reported that a number of workers got huge seven-figure secret payouts to settle their claims.

Jane Shepherdson, the previous model director at Topshop, has described him as a “bully”. She alleged that his behaviour within the office was “worse than most” and that bullying nonetheless occurred within the firm. A spokesperson for Inexperienced and Arcadia declined to touch upon Shepherdson’s allegations on the time.

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