Shares of Adidas opened the day trading at $125.56. As of a little after 1pm Adidas is trading at $127.05. A nice little bump for Adidas shareholders. This bump is likely 100% because of the news that Beyoncé has signed a deal with the company.
TMZ (@TMZ) reported, Adidas announced a new “multi-layered” deal with the mega star this afternoon. Beyoncé will serve as a creative partner as part of the deal. Beyoncé launched her own line “Ivy Park” back in 2016. Rumor is, she’s expected to bring Ivy Park over to Adidas along with a reported sneaker line. Beyoncé spoke about the new deal
“This is the partnership of a lifetime for me. 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.”