Ivanka Trump shutting down her clothing brand
Washington, D.C — Ivanka Trump’s fashion icon shutting down her clothing brand, according to sources.
Trump started her fine-jewelry line in 2007 and has since expanded to shoes, clothing and eyewear. In December, she opened a store in the lobby of Manhattan’s Trump Tower, where, she said, she hoped to sell handbags, jewelry and candles directly to consumers, raising concerns among some ethics experts, who said it was yet another way for the Trump family to tap into the wallets of their supporters.
The president’s daughter and White House senior adviser told to sources why shutting down the company because “focus for the foreseeable future will be the work in Washington and called the company’s closure “the only fair outcome for my team and partners.”
The company is based in New York’s Trump Tower, had been dropped by retailers such as Nordstrom due to flagging sales. A number of national retailers, including Macy’s, Lord and Taylor, Zappos and Amazon.com currently carry the first daughter’s line. (Jeffrey P. Bezos, founder and chief executive of Amazon, owns The Washington Post.)
Ivanka Trump made more than $5 million from her fashion company between January 2016 and March 2017, according to financial disclosures released last year. She has since handed over day-to-day operations to Klem but continues to own the company she founded 11 years ago.
“When we first started this brand, no one could have predicted the success that we would achieve,” Trump said in a statement. “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,” sources told.
