Ivanka Trump has confirmed the closure of her fashion and accessories business. According to Page Six, the company’s staff are being laid off and the company will close “ASAP.” And per People, it was “a very emotional decision” for Ivanka to make; she was “upset” but realized it “was the most practical path forward.”
Ivanka’s clothing and shoe line had been struggling to retain a foothold in the retail business following her father’s presidential campaign (and victory). A spokesperson for the brand, however, said sales remained strong through the past year in a statement to Cosmopolitan.com.
In July 2017, Ivanka announced she would leave the company to focus on her senior advisor role in Washington D.C. and to work alongside her dad. (She handed ownership over to a trust.) At the same time, she announced she’d no longer work with the Trump Organization which controls the hundreds of businesses that Donald owns. “I will no longer be involved with the management or operations of either company,” she explained in a Facebook post.
That same year, it was estimated that the Ivanka Trump brand was worth $100 million, but a Page Six source said, “It’s just never recovered since she stepped away from the company.” A spokesperson from the fashion line stated the closure had nothing to do with performance or sales but was solely based on Ivanka’s choice to remain in D.C.
As reported by CNN, Ivanka released the following statement saying:
“When we first started this brand, no one could have predicted the success that we would achieve. 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. I am beyond grateful for the work of our incredible team who has inspired so many women; each other and myself included. While we will not continue our mission together, I know that each of them will thrive in their next chapter.”
Culled from cosmopolitan.com
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