As Beyoncé buys out Topshop’s shares in Ivy Park, our great-grandkids may have a lot to thank her for.
Queen B is forever leading the female species into revolt against the misogynistic patriarchy. This time, that misogyny is at the peak of the global fashion retail industry.
It was announced on Thursday that Beyoncé is buying out Topshop’s shares in her athleisure label, Ivy Park, following allegations against Topshop owner Philip Green.
Negotiations for Ivy Park’s split from Topshop began almost a year ago, when claims relating Green to a scandal concerning sexual misconduct began to bubble under the surface. Last month Green secured an injunction that suppressed news reports of accusations of his making racist and misogynistic comments, whereby the Court of Appeals issued a gag order to prevent the Telegraph from exposing the scandal. After giving multiple employees seven-figure secret settlements, Green dismissed his comments as “banter” that had “no intent to be offensive”. His magnitude of power rescued him from exposure that could - and soon would - shatter his $5 billion reputation.
This month, following further investigation into allegations of sexual harassment, his authority has proved unable to save him for a second time. In a reaction praised by fans and endorsed by both the music and fashion industries, Beyoncé’s management company, Parkwood, has acquired 100% of the Ivy brand.
But this goes way beyond shares in a business. Beyoncé has long been admired as an icon for the empowerment of women around the globe. She’s practicing what she preaches. “We’re smart enough to make these millions, smart enough to bear these children, then get back to business” are lyrics to her pop anthem Run The World. At the 2014 MTV VMA’s, the singer’s stage screens were plastered with lines from Chimamanda Ngozi Adichie’s essay ‘We Should All Be Feminists’. This week’s decision is the culmination of Beyoncé’s mission to show women that they can take a hold of their own power. As a generational music icon, fashion influencer and business woman, Beyoncé is resolute in using the authority of her brand for the good of the society we’re building for the generations after us. Our great-grandkids may have a lot to thank her for.