Ivanka Trump fashion label to close down
Ivanka Trump is closing down her fashion brand, reflecting a lack of time to devote to the business and the political challenges the company faces.
A statement on the brand’s Facebook page thanked customers of bring part of the journey.
“It has been an honor to build this incredible community of women and we are very proud of the content and product we delivered,” the statement reads.
“Most importantly, we cultivated amazing partnerships and friendships during the life of the brand.”
Major US retailers including Marshall’s, Nordstrom and TJ Maxx have already removed her clothing and accessories from their shelves.
Neil Saunders, managing director of GlobalData Retail noted that while the brand will disappear in the short term, the copyrights and intellectual property would be retained, leaving the door open for a potential relaunch in the future.
“Ms. Trump was always closely associated with the brand but her current responsibilities mean she has had to take a back seat,” said Saunders.
“This lack of control is likely uncomfortable when the label bears her name and is largely seen as an extension of her personal brand.
“The close association is also the reason for the various political challenges. Views on the brand have become highly polarized and it has become a lightning rod for protests and boycotts. While the company is still viable, doing business has become far more challenging and these problems will only increase.”
According to the New York Times, The brand’s headquarters were nestled in Trump Tower in Manhattan, and Ms Trump initially relied on human resources, technology and legal support from her father’s real estate company to get started. “In later years, she aspired to turn the label into a full-fledged lifestyle brand, recruiting executives from major fashion companies to help. Yet the company remained mostly a licensing business, making deals with manufacturers who paid to use the Ivanka Trump name.”
This story first appeared on sister site Inside Retail Australia.