The Beyhive has plenty to celebrate!

On Thursday, Adidas announced that they are partnering with Beyonce, who will serve as a creative partner for the brand and develop new signature footwear and apparel. Additionally, the "Halo" singer will relaunch her athletic wear company, Ivy Park, with the brand.

The new products will include items for both performance and lifestyle and will focus on "empowering and enabling the next generation of athletes, creators and leaders" through meaningful storytelling.

"Beyonce and Adidas are natural partners, both with a deep respect for and commitment to creativity, equity and creators," the company said in a press release. "Neither ascribes to the typical stereotypes of athletes and what athleisure clothing and footwear should be, and instead, will bring to life a shared vision of inclusion that will forever alter the opportunities and landscape for all."

"This is the partnership of a lifetime for me," Beyonce said in the press release. "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."

Eric Liedtke, an executive board member at Adidas, praised Beyonce as "an iconic creator, but also a proven business leader," while the brand said that it "respects Beyonce's ownership of her company, which continues her journey as one of the first black women to be the sole owner of an athleisure brand."

Beyonce initially partnered with Topshop in 2014 and created Ivy Park two years later. In 2018, though, Beyonce cut ties with the British brand, according to CBS News. There's no word yet on when the collection will be available.

Watch the video below for more on Beyonce.

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