Beyonce, Adidas partner on new collection, Ivy Park relaunch

April 4 (UPI) -- Beyoncé and Adidas are teaming up on a new collection.

Adidas announced in a news release Thursday the 37-year-old singer and fashion designer will serve as a creative partner and develop new signature footwear and apparel for the sportswear brand.

Beyoncé and Adidas will co-create performance and lifestyle products within a shared vision of inclusivity. Adidas will also relaunch Beyoncé's athleisure brand, Ivy Park, which the singer introduced in 2016.

"This is the partnership of a lifetime for me," Beyoncé said in a statement. "Adidas has had tremendous success in pushing creative boundaries. We share a philosophy that puts creativity, growth and social responsibility at the forefront of business. I look forward to re-launching and expanding Ivy Park on a truly global scale with a proven, dynamic leader."

Beyoncé will maintain ownership of Ivy Park.

"Beyoncé is an iconic creator but also a proven business leader, and together, we have the ability to inspire change and empower the next generation of creators," Adidas executive board member Eric Liedtke said.

Ivy Park confirmed the news in an Instagram post Thursday. The company shared a short clip showing Beyoncé's name and the Ivy Park and Adidas logos.

Beyoncé initially launched Ivy Park with the British retailer Topshop. She acquired total ownership of Ivy Park in November following allegations of sexual harassment and racial abuse against co-founder Phllip Green.