Beyoncé buys out clothing venture from UK's Philip Green

[November 15, 2018]   LONDON (Reuters) - U.S. singer Beyoncé has bought the Ivy Park fitness clothing brand launched two years ago with British retail tycoon Philip Green, who has faced allegations of sexual harassment.

"After discussions of almost a year, (Beyoncé's) Parkwood has acquired 100 percent of the Ivy Park brand," Ivy Park said in a statement.

It said Green's Topshop and Arcadia businesses will fulfill existing orders to Ivy Park. No financial details were disclosed.

Ivy Park sells items such as hoodies and leggings, part of a trend toward so called athleisure. Beyonce, who is married to rapper Jay-Z, has a six-year-old daughter called Blue Ivy.

Green's representative referred to the Ivy Park statement, without further comment. A representative of Beyoncé could not be reached for additional comment.

The deal was first reported in the Financial Times.

Green, one of Britain's best known businessmen, was named in parliament last month as having taken legal action to prevent publication of allegations of sexual harassment and racial abuse of staff.

In a statement last month Green denied having broken the law and said his businesses fully investigated employee grievances.

(Reporting by James Davey; Editing by Keith Weir)

[© 2017 Thomson Reuters. All rights reserved.]

Copyright 2017 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.  Thompson Reuters is solely responsible for this content.