A week after shutting down her business, Ivanka Trump's store remains open
- 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.
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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