Apr 05, 2:13 AM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Business By Motley Fool Staff 04/04/19 AT 11:51 PM Adidas (NASDAQOTH:ADDYY) will collaborate with pop star Beyonce Knowles in an exclusive partnership, a move the athletic brand is betting will pay off with younger consumers.The decision, announced on Thursday, makes Beyonce the brand’s most recent celebrity collaborator, which adidas calls its “creative partners.” Other celebrities who work with the sneaker company include rapper Kanye West, designer Alexander Wang, and actor and musician Donald Glover.Beyonce will design her own line of sneakers and clothing for adidas, as well as revitalize her streetwear brand Ivy Park, which was founded in 2016.Beyonce’s brand powerAdidas’ decision to partner with Beyonce is perhaps one of the brand’s most deliberate attempts at gaining market relevance. The company’s multi-season Yeezy collaboration with West became a social media sensation, and the brand is now estimated to be worth around $1.5 billion. But Beyonce brings even more global exposure to the German brand in the ever-competitive world of athleisure.Beyonce boasts a mammoth following social media — she has the eighth-most-popular Instagram account, with over 126 million followers — and is one of three female vocalists to have 20 or more No. 1 hits in… Read full this story
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