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Ivanka Trump store remains open after she shuts down business

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The Ivanka Trump Store
Ivanka
Trump’s Trump Tower store on Tuesday.

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 did not answer further
    questions.
  • A representative for the president’s eldest daughter
    did not answer Business Insider’s questions about the store,
    instead referring to past statements made by Ivanka and Abigail
    Klem, president of Ivanka’s 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
potential customer. The employee, not authorized to speak with
the press, declined to answer any additional questions.

Business Insider asked a representative for Ivanka’s business
whether the store was selling the remainder of its existing
merchandise or planned to remain open beyond that. The
representative did not answer any questions about the store,
instead pointing to past statements from Ivanka and Abigail Klem,
president of the Ivanka Trump brand.

Last week, three Trump Tower
security guards told Business Insider that the store would be
closed for the remainder of the day after Ivanka announced that
her business would cease operations. The security guards, who
asked not to be quoted and did not work for the store itself,
said they had yet to be informed about the store’s 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.

Ahead of announcing its
closure, The Wall Street Journal reported Ivanka grew frustrated with the
self-imposed ethics restrictions on her fashion brand, such as
the inability to strike new foreign deals, and felt that they
stunted its growth. A number of stores, such as Nordstrom and
Hudson’s Bay, dropped the brand since her father took office last
year.


Ivanka Trump
Ivanka Trump.
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,” Ivanka 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 when compared to the previous year, The Journal reported.
In November
, YouGov consumer perception survey found that her
fashion line fell to the bottom 10 of more than 1,600 brands
analyzed.

The brand saw growth during
the 2016 election season. At the end of last January, net sales
of Ivanka-licensed apparel rose 61% to $47.3 million from the
previous year, a Securities and Exchange
Commission filing
from G-III showed.

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 separated herself from its management
and operations prior to joining the administration. Ivanka
retained her ownership interest through a trust.

Her most recent financial disclosure showed the trust was valued
at more than $50 million and earned her more than $5 million in
income last year. Ivanka maintains a stake in the Trump
Organization, though she resigned from her position prior to
joining the administration.

Jessica Tyler contributed to this story.

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