Beyoncé’s Company Bought Out By LF USA
WWD.com reported today that LF USA, a subsidary of Li & Fung, “has put a ring on Beyoncé‘s finger.”
Beyoncé and Tina Knowles‘ company, Beyond Productions, has been acquired by LF USA—North America’s fastest growing provider of retail design services and production.
Beyond Productions is a designer and licenser of women’s fashion apparel and accessories whose brands include House of Deréon, Deréon, Curvelicious and Miss Tina. In addition, LF USA has entered an endorsement agreement with Beyoncé for House of Deréon and Deréon.
In an interview Monday in New York with Beyoncé and Tina Knowles, Rick Darling, president of LF USA, and Bruce Rockowitz, president of Li & Fung (Trading) Ltd., they all spoke about their desire to expand the brands globally.
“We’re at the point where we wanted to have more growth, and we needed someone who was global,” said Tina Knowles, creative director. She said the brand already has some distribution in Greece, Canada and China.
“The hardest thing has been sourcing and manufacturing,” said Tina Knowles. “L&F is the best at those two things.” She said the company’s management team will stay in place, as will the staff. Philip Davis will remain president of Beyond Productions.
Beyoncé told WWD she’s excited about the prospect of having more people wear the clothes and bringing the brands to a larger audience.
“I just did a world tour, and I was able to see fans in the audience wearing Deréon in China and Egypt. To know that more people will have access to the brand is what we’ve worked so hard to do,” she said. She added that she’s very proud of Deréon, and has used the brand’s names in her songs’ lyrics.
In other (interesting) news, Beyoncé has been cast as the lead in the remake of A Star Is Born, a role made famous by Judy Garland and Barbra Streisand.
Go ‘head girl.
Get your Deréon gear on DrJays.com by clicking HERE.