In collaboration with Adidas, the Lemonade artist will co-create new apparel and footwear for the line, ranging from performance to lifestyle pieces.
"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."
She added that she’s looking forward to "relaunching and expanding Ivy Park on a truly global scale with a proven, dynamic leader."
The decision to buy out the TopShop owner last November came shortly after Green was accused of sexual harassment and racial abuse, according to Business Insider.
"As the creator sports brand, Adidas challenges the status quo and pushes the limits of creativity through its open source approach. 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," Eric Liedtke, Adidas' executive board member of global brands, said in a statement.
Ivy Park released a teaser via Instagram Thursday shortly after the announcement.