Dan Runcie on why Adidas-Beyonce partnership didn't work out as planned

"When Beyonce and Adidas teamed up on Ivy Park in 2019, it seemed like the sky was the limit. Beyonce wanted a partner that offered creative control. Adidas wanted to replicate Yeezy’s massive success... But the recent Wall Street Journal report of a 50% sales decline and a $200 million drop in Adidas’ sales projections brought a series of challenges to light" - Trapital's Dan Runcie points out in his latest memo. "There were uninspired drops, less enthused customers, and creative tension... It’s very difficult to push a celebrity-influenced direct-to-consumer product in the social media era without that celebrity promoting the brand in an accessible way... It’s a reminder that even the most powerful celebrities still need product-market fit and alignment with business partners to succeed. “the next Yeezy” never happened."