The company will finish its operations after eighteen months of turbulences with various retailers that refused to sell the label collections due to her father’s political statements. Ivanka Trump currently employs twenty people.
Ivanka Trump surrenders after all the critics. Donald Trump’s daughter has announced the closure of her eponymous fashion brand, after a complicated year and a half behind businesswise. The entrepreneur has said that she shuts down the company due to her advisory role within the White House.
The political steps taken by US President Donald Trump since winning the elections in 2017 had a direct impact on Ivanka’s fashion business. In fact, retail behemoths like Nordstrom or G-III Apparel stopped selling the label collections in their stores shortly after Trump’s election. Thus, company sales have steadily reduced in the last fiscal year, according to WWD.
Since late 2017, Ivanka Trump has been spearheaded by Abigail Klem, who was appointed president after the eponymous founder left the management. The brand, founded in 2007, started off selling jewellery and accessories. Currently, it posted sales in the range of 100 million dollars (85.5 million euros) per year and operated through 800 points of sale worldwide and an ecommerce platform, launched this year.