- Allan Smith/Business Insider
- A week after Ivanka Trump – President Donald Trump’s eldest daughter and an assistant to the president – announced the closure of her fashion business, her Trump Tower store remains open.
- Approached by Business Insider on Tuesday, an employee said the store was open but declined to answer further questions.
- A representative for Ivanka Trump’s business did not answer questions about the store, instead referring Business Insider to past statements by Trump and Abigail Klem, the president of her brand.
A week after Ivanka Trump, President Donald Trump’s eldest daughter and an assistant to the president, opted to close her namesake fashion business, her Trump Tower store remains open.
An employee confirmed that the store was open when approached by Business Insider on Tuesday after discussing an item with a prospective customer. The employee, who was not authorized to speak with the press, declined to answer any additional questions.
Business Insider asked a representative for Ivanka Trump’s business whether the store was selling the rest of its merchandise or planned to remain open beyond that. The representative did not answer any questions about the store, instead pointing to past statements from Trump and Abigail Klem, the president of the Ivanka Trump brand.
Last Tuesday, after Trump announced that her business would cease operations, three Trump Tower security guards told Business Insider the store would be closed for the remainder of the day. The guards, who asked not to be quoted and did not work for the store itself, said they had not been informed about its future and wouldn’t count on it reopening in the coming days.
The lights were off and the door was locked when Business Insider approached the store last week. The Trump Tower location is the brand’s only physical store.
Ivanka’s line of clothing, shoes, and accessories will continue to be produced and sold by the company’s licensing partners, a representative for the brand said last week.
She was said to have grown frustrated with the self-imposed ethics restrictions on her fashion brand, such as an inability to strike new foreign deals, and felt that they stunted its growth. Several stores, such as Nordstrom and Hudson’s Bay, had dropped the brand since her father took office last year.
- Win McNamee/Getty Images
“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,” she said in a statement last week. “So making this decision now is the only fair outcome for my team and partners.”
According to Rakuten Intelligence, the brand’s online sales through Amazon, Macy’s, Bloomingdale’s, and Zappos fell about 45% since mid-2017 compared with the previous year, The Wall Street Journal reported. In November, a YouGov consumer-perception survey found that Ivanka’s fashion line fell to the bottom 10 of more than 1,600 brands analyzed.
The brand saw growth during the 2016 campaign. At the end of January 2017, net sales of Ivanka Trump-licensed apparel had risen 61%, to $47.3 million, from the previous year, The Journal reported, citing a Securities and Exchange Commission filing.
While working in the White House, Ivanka continued to be updated on the financial health of the company and earned a share of its profits, even though she had separated herself from its management and operations. She retained her ownership interest through a trust.
Her latest financial disclosure showed the trust was valued at more than $50 million and earned her more than $5 million in income last year, The Journal reported. She maintains a stake in the Trump Organization, though she resigned from her position before joining the administration.
Jessica Tyler contributed to this story.
Read more about Ivanka Trump’s brand:
- Ivanka Trump’s fashion company is shutting down
- Ivanka Trump’s fashion company is shutting down. Here’s the full story of the first daughter’s business from its founding to the end.
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- Ivanka Trump distanced herself from her fashion line when her family moved into the White House, but she still reportedly made $5 million off the company last year
- Online sales of Ivanka Trump’s brand reportedly plummeted in the last year
- Ivanka Trump is shutting down her fashion company – and reactions reveal another major division in America
- A Canadian department store is the latest retailer to stop selling Ivanka Trump products
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