Ivanka Trump Closes $100 Million Fashion Business

by | Feb 7, 2023 | FASHION, FASHION SCOOPS | 0 comments

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The Ivanka Trump company has permanently closed its doors after a rocky few years.

The Ivanka Trump brand, which was founded in 2007 as a fine jewelry business, has now expanded into a variety of product categories, including sportswear, footwear, accessories, fragrance, denim, and others. The business was projected to be worth $100 million before Donald Trump took office, but after his inauguration, sales suffered in part as a result of the creator of #GrabYourWallet Shannon Coulter’s demand for a boycott in October 2016. Despite the fact that the first daughter left the firm before her father assumed power, many consumers still identified the brand with her.

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Coulter expressed skepticism on Tuesday that the company’s choice was motivated by Trump’s attention to Washington. The activist said that the impending autumn shopping season and a desire to avoid the disgrace of not being stocked by significant shops were most likely the driving factors.

She cited the Trump administration’s attempted Muslim ban and the president’s contentious tweets about the violence in Charlottesville, North Carolina, last year as examples of the pattern that has emerged over the past 18 months, wherein retailers have come under pressure to stop carrying a Trump brand in the wake of “things that consumers consider to be racist or xenophobic.” After the Trump administration was exposed for “forcibly separating thousands of immigrant children from their parents,” she said, “this third great wave” began. “For approximately eight weeks, I’ve seen tremendous pressure on stores,” Coulter said. The fact that Hudson’s Bay discontinued her [brand] didn’t surprise me. And the news from today doesn’t surprise me.

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The number of workers who were impacted by the shutdown was kept a secret by business executives. Retail sales have decreased recently, and earlier this month, Hudson Bay abruptly discontinued the line. Following that, the advocacy organization Care2 circulated an online petition asking Lord & Taylor to follow suit. On Tuesday, the organization was just short of reaching its target of 18,000 signatures.

The business distributed goods to 800 retailers worldwide as of September 2016, including Lord & Taylor, Zappos, Amazon, and Nordstrom. The business started offering e-commerce on its website earlier this year. Tuesday, corporate executives refused to disclose the number of locations that offer the collection.

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“When we initially established our company, no one could have foreseen the success that we would achieve,” Ivanka Trump said in a statement. I have spent the past 17 months in Washington, and I have no idea when or if I will ever return to the company. However, I do know that my attention will be on the work I am doing here in Washington for the foreseeable future, so making this decision now is the only thing that will be fair to my team and partners.

Ivanka Trump at the 2016 Republican National wearing a dress from her namesake label. GREG E. MATHIESON SR./REX/SHUTTERSTOCK

“I am extremely thankful for the efforts of our great team who have inspired so many women, including themselves and one another,” she said. Even though we won’t be completing our objective together, I am certain that each of them will succeed in their next chapters.d

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Before moving to the Beltway with her husband, Jared Kushner, and their kids, Trump was a key contributor to the company’s portrayal of the working woman. Trump transferred ownership of her business into a trust when she left. Additionally, it was said that the creator carefully collaborated with the ethics advisor to follow the rules established by the Office of Government Ethics in an effort to stay clear of any possible conflicts of interest.

“We are tremendously proud of the brand we have established and the content and product we have generated for our clients,” Ivanka Trump brand president Abigail Klem said. Our network of devoted women now relies on our platform more than ever. Since the brand’s start, we have seen great sales, which have continued this year with the successful introduction of our quickly expanding e-commerce operation.

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The closure was “a very tough choice for Ivanka, and I am very thankful for the chance to have led such a skilled and dedicated team,” according to Klem’s statement. The squad showed fortitude and hope even in the most unusual situations. I am grateful to the team for the fantastic job they have done and to our exceptional partners who so carefully carried out our brand vision, from the brand’s original launch in 2014 to the current growth of direct-to-consumer capabilities on our website.

When the founder of the brand revealed that she and her husband would be moving to Washington, D.C., Klem became a founding member of the business and assumed the position of CEO.

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Ivanka Trump sportswear, dresses, and jackets are produced by the G-III Apparel Group, whose chief executive officer said on Tuesday that the Ivanka Trump license is not being renewed and that they would continue to uphold their obligations.

G-III has held the right to make and sell Trump’s clothing since late 2012, and the company will keep shipping until the end of the year. For spring/summer 2014, it sent its first collections to department and specialty retailers in the United States, Canada, and Mexico.

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There isn’t a strategy to get rid of the employees since we have numerous fresh projects. They’ll be transferred to other departments inside our company, according to Goldfarb.

Trump’s collections for G-III, according to sources, were sold in retailers including Lord & Taylor, Dillard’s, and Macy’s.

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In addition to HBC in Canada, which said last week that it had removed Ivanka Trump from its website and would no longer sell her items in its 90 physical locations throughout the country owing to performance concerns, Nordstrom also discontinued the Trump line last year. They sold it up to the spring of 2017, but they didn’t purchase it for the autumn or later.

The Trump brand was offered for sale in the company’s shop at 725 Fifth Avenue, which also offers shoes and handbags, in addition to its website.

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