Beyoncé’s New Streetwear Brand
British high street retailer Topshop is joining forces with US superstar Beyoncé to launch a new global streetwear brand – further proof of sportswear’s growth in the fashion market.
The 50-50 joint venture company, called Parkwood Topshop Athletic Ltd, will debut its first collection in New York in Autumn 2015. The pop star will work on clothing, footwear and accessories in categories ranging from sportswear to fitness to dance.
According to Beyoncé, the collection will be “technical and fashion-led”, echoing Topshop boss Philip Green’s previously announced plans to hire designers with expertise in both technical sportswear and high fashion to produce collections attractive to a wide market. Technical performance gear will sit alongside athleisure wear, which targets yoga-goers and weekend fitness consumers.
We’ve been looking at the athletic sector for a while. It’s something we need to be in. This is a unique opportunity to develop this category.
Topshop is not the first retailer to capitalise on the growth of the sportswear sector. Many fashion, apparel and sportswear companies have entered the category, including Stella McCartney for Adidas and Riccardo Tisci for Nike. The most recent launch combines the expertise of heritage sportswear brand Adidas with the signature contemporary prints of Mary Katrantzou, due for launch in November 2014.
But by following in the footsteps of e-tailer Net-a-Porter and the launch of its own dedicated sportswear website Net-a-Sporter, Green is moving beyond one-off collaborations and acknowledging the huge potential of the fashion sportswear market, which is set to grow to $178bn by 2019, according to Boston-based research firm Trefis.
“This is not a collaboration,” Green said in an interview with WWD. “This is about building a brand and building a business.”
Keep an eye out in November for a forthcoming retail report which will explore how music informs retail strategies.