It├óΓé¼Γäós business as usual in Beyonce├óΓé¼Γäós world!
Two years ago, the company she started with her mom Tina Knowles, Beyond Productions LLC, was acquired by Li & Fung.
In that time, Bey├óΓé¼Γäós Der├â┬⌐on labels haven├óΓé¼Γäót been doing too well, so LF is changing their direction.
That sounds familiar!
This dramz has caused Beyond Productions├óΓé¼Γäó former CEO Philip Davis to leave the company and over 15 people have been fired!
LF├óΓé¼Γäós prez, Rick Darling, explained the movement, stating:
“House of Der├â┬⌐on has been distributed exclusively in Europe for the past two years in department and specialty stores. As part of our growing contemporary business, we are repositioning the brand in the United States. Additionally, we are continuing our successful Miss Tina business.”
That├óΓé¼Γäós inneresting since the original plan was to make the line more global!
At one point both House of Der├â┬⌐on and Der├â┬⌐on were making $100 million and selling in Bloomingdale’s and Macy├óΓé¼Γäós but the profits have fallen since then, and the lines, including Miss Tina, are carried at stores like Burlington Coat Factory and Wal-Mart.
Both Beyonce and her mom have changed the priorities in their lives over time, like everyone does, and Beyond Productions is no longer near the top.
Who can really focus on clothing sales when Blue Ivy is staring at you! C├óΓé¼Γäómon!
Hopefully this dramz calms down because it├óΓé¼Γäós never good when people are getting fired!
[Image via House of Der├â┬⌐on.]