It’s the end of an era as Beyoncé and the world’s second-biggest sports apparel brand Adidas (ADDYY +0.86%) mutually agree to part ways. Sales for Ivy Park fell more than 50% to $40 million in 2022, far below the $250 million Adidas projected. This has triggered a profit warning to investors, as the brand tries to climb out of its billion dollar hole and focus on core products.
Today the primary and secondary markets for Black artists’ work are at all-time highs, driving some of the most closely watched sales in the industry. Blockchain offers the ability for Black artists to track and verify their art work, along with the possibility of fractional ownership, thereby lowering barriers to entry into the world of art collection.
The art market was last valued at $45 billion in 2017 The Museum of Modern Art has secured 430 pieces by black artists since 2010 Wall Street titans are making a mad dash for black art. Billionaire hedge fund managers Steve Cohen and Kenneth Griffin both recently donated high profile pieces to the Museum of
In the last two years millennials bought almost half of the artwork priced at $1M Millennials purchase more socially conscious pieces of work by people of color Many millennials are foregoing starter homes and instead buying art. They are choosing to leave the cheap reprints in their college dorm rooms and invest in original pieces
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