Beyonce and Jay Z are arguably the most successful couple in the hip-hop industry, with their combined net worth presently surpassing the billion dollar mark. And as things stand, the two are presently locked in a dispute to trademark their daughter’s name, Blue Ivy Carter. The name is registered to the Blue Ivy wedding planning company based in Boston.
The enterprise has blocked several similar requests in the past. The following is an excerpt of a report by TMZ detailing the situation.
“Blue Ivy, the company, filed docs to block Bey’s company from getting the trademark. TMZ broke the story… Blue Ivy’s mom filed her application earlier this year to own the name “Blue Ivy Carter” for a slew of products — cosmetics, mobile devices, video games, etc…
“But according to the existing company — which was in biz 3 years before Jay Z and Beyonce’s kid was born — the Carters are trying to pull a fast one. Blue Ivy’s owner Veronica Morales points out Jay is on record as saying they have NO intention of actually selling any products… they’re just trying to stop others from doing it.
“This is the second time the company — an event planning firm, btw — has tried to block Beyonce… who initially tried to get the trademark without ‘Carter.’ Adding the last name hasn’t helped.”
In 2012, Jay Z and Beyonce filed court papers to protect their daughter’s name, Blue Ivy, but clashed with the company. The court ruled in favor of the business. Their endeavor was to launch a line of baby products based on the name.
On why celebrities are rushing to get into the kids clothing business – money. But it’s more than that. The kids clothing business is one of the most unique areas as it has little competition and trends rarely change. The lucrative line is also immune to economic turbulence. What’s more, the children wear market is estimated to be worth about $173,6 billion. The following is a report by Fashion Bi.
“The market for infants and toddlers wear is recalled as the perfect text book case for a market pattern as well. Affected by neither economic dynamics nor new fashion trends, this fast growing market is expected to have a stable CAGR of 4.2 percentage through to 2017.
“It should also be noted that the exact market size cannot be predicted because many of the companies in the industry are privately owned.”
This is seemingly one of the main reasons why Kimye, Jay Z and Beyonce see it as a viable option. Lately, Kim Kardashian’s net worth has been reported to be plummeting. The traumatizing Paris robbery has previously being pointed out as one of the elements that negatively affected her flashy lifestyle brand in the months following the incident.
The recently leaked photos revealing her cellulite issues also didn’t make things any better, and reportedly made her lose about 100,000 Instagram followers in a day. Many of Kim’s die-hard fans who closely followed her beauty and diet routines were reportedly disappointed by the revelation.
According to a recent report by D-Marie Analytics, Beyonce has ousted Kim Kardashian to become the most bankable celebrity on Instagram, primarily because she has the highest engagement and click through rates.
This gives Kim Kardashian a great excuse to diversify, and Beyonce the opportunity to rake in even more cash due to her popularity. Beyonce, who is pregnant with twins has taken a hiatus from the entertainment world. However, she has stayed in the limelight by flaunting her baby bump on her social media accounts. On the other hand, Kim and Kanye are working on developing their kids wear brand.
[Featured Image by Dimitrios Kambouris/Getty Images for adidas]