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Ivanka Trump made $5 million from her fashion company last year

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Ivanka Trump
Ivanka Trump’s fashion company is closing
down.

Win McNamee/Getty
Images



  • Ivanka
    Trump
    made $5 million from her fashion label in 2017, the
    Washington Post reported in June.
  • Trump stepped down from the day-to-day operations of
    the business in January 2017.
  • The brand
    announced on Tuesday
    it would be winding down its
    business. 

Ivanka Trump’s fashion company announced on Tuesday that it would
be shuttering its business. 

“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,” Trump said in a statement. “So making this decision
now is the only fair outcome for my team and partners.”

The news left many wondering how much of a dent the decision is
likely to put in her net worth. While Trump had stepped away from
the daily operations of the company in January 2017, she still
generated income from the business. 

As Ivanka Trump is a private company, it is not required to
release sales numbers. But according to
The Washington Post
, which in June analyzed financial
disclosure forms Trump is required to submit as a government
employee, she made $12 million from business ventures in 2017
while serving as a senior White House adviser. The largest chunk
of that income — $5 million — came from her clothing brand.

Trump hasn’t had a role in the day-to-day operations of the
Ivanka Trump business since January 2017, when she stepped down
and was replaced as president by Abigail Klem, who had been with
the company since 2013.

Trump placed her company into a trust run by family members and
continued to receive a share of its profits. 

While her father’s presidency has given the company more
attention, it hasn’t always played in its favor. According
to The Wall
Street Journal
, online sales surged at the company in 2016
and early 2017 after it was thrust into the limelight during the
election, but since then have trended downwards.

In the past two years, it has also been a central target of a
boycott movement headed by Shannon Coulter, a brand and digital
strategist, who set up the #GrabYourWallet hashtag to encourage
people seeking a way to take concrete action against President
Donald Trump to boycott companies — large and small — that do
business with the family.

As a result, several brands such as Nordstrom,
Jet.com, and Gilt dropped the Ivanka Trump fashion line in
the past year.

In July,
Hudson’s Bay became the latest store to do so, citing poor
performance.
 Those retailers that do still stock
the brand, such as Amazon, Macy’s, Bloomingdale’s, and Amazon
subsidiary Zappos.com, have many of her items on sale.

According to Rakuten Intelligence, which looks at
aggregated receipts from online purchases, in the past twelve
months sales for Ivanka Trump products on those sites had fallen
almost 45% compared to a year ago,
the Wall Street Journal
reported.

Read more about Ivanka Trump’s brand:

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