A spokesperson for Ivanka Trump confirmed today (July 24, 2018) that she’s in the process of shutting down her namesake brand. As part of the process, licensing deals won’t be renewed and all employees will be laid off.
“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,” said Trump in a press statement obtained by the NY Times. The brand also posted a statement on Instagram, thanking followers for “being part of this journey.”
Based in New York, the Ivanka Trump label was largely built on licensing deals, whereby the name was leased in exchange for a percentage of sales of clothing, shoes and accessories.
Trump first entered the business of retail in 2007 a partnership with Dynamic Diamond Corp., with whom she launched Ivanka Trump Fine Jewelry, a line of diamond and gold jewelry.
When her father was elected president, the push back on her businesses was immediate. Nordstrom in February 2017 was the first to announce it was dropping her line though it claimed it was due to poor sales not political pressure. Subsequently, a steady stream of retailers followed suit.
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