President Donald Trump’s daughter, Ivanka Trump, has decided to close down her fashion brand.
Launches in 2007 as a fine jewellery company, the Ivanka Trump brand branched out into sportswear, footwear, accessories, fragrance, denim and other categories over the years, and today it runs as a full fashion lifestyle brand.
Before Donald Trump took office, the fashion label was estimated to be a $100 million company, but post-inauguration business has been bumpy, with shoppers boycotting the first daughter’s products, and retailers letting the brand go.
While Ivanka Trump actually split from the company a year ago to enter the White House as a senior adviser, she has now decided to close the label completely.
A spokesman for the brand says this decision is not based on sales, but on where Ivanka Trump sees her future.
The namesake founder told the Wall Street Journal: “After 17 months in Washington, I do not know when or if I will ever return to the business, but I do know that my focus for the foreseeable future will be the work I am doing here in Washington. So making this decision now is the only fair outcome for my team and partners.”
Abigail Klem, president of the Ivanka Trump brand, adds in her statement: “I know his was a very difficult decision for Ivanka and I am very grateful for the opportunity to have led such a talented and committed team. When faced with the most unique circumstances, the team displayed strength and optimism. From the initial launch of the brand in 2014 to the recent expansion of direct-to-consumer capabilities on our web site, I am thankful to the team for the great work they have done and to our outstanding partners who so diligently executed our brand vision.”
“We are incredibly proud of the brand we have built and the content and product we’ve developed for our customers. Our platform has become an indispensable resource for our loyal community of women. We’ve seen strong sales since the brand’s inception, which continued through this year with the successful launch of our rapidly growing e-commerce business.”
A spokesman for the brand said the process of winding down the company would begin immediately, that the brand’s licensing deals would not be renewed and that its 18 employees would depart in the coming weeks. Existing products will continue to be sold, but no new ones will be added for next spring.