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Ivanka Trump to End Fine Jewelry Line in Favor of Mass-Market One Ivanka Trump to End Fine Jewelry Line in Favor of Mass-Market One
(about 2 hours later)
Over the last few weeks, it seemed like Neiman Marcus could not make up its mind about whether to sell Ivanka Trump’s fine jewelry. The brand’s baubles disappeared, reappeared and then disappeared again from the department store’s website.Over the last few weeks, it seemed like Neiman Marcus could not make up its mind about whether to sell Ivanka Trump’s fine jewelry. The brand’s baubles disappeared, reappeared and then disappeared again from the department store’s website.
But now, Neiman Marcus won’t have much of a choice.But now, Neiman Marcus won’t have much of a choice.
Ms. Trump’s brand has discontinued its line of high-end bracelets, necklaces and rings, the company confirmed on Monday. Instead, it will focus on more affordable fashion jewelry, according to Abigail Klem, the president of Ms. Trump’s brand.Ms. Trump’s brand has discontinued its line of high-end bracelets, necklaces and rings, the company confirmed on Monday. Instead, it will focus on more affordable fashion jewelry, according to Abigail Klem, the president of Ms. Trump’s brand.
In a statement, Ms. Klem attributed the decision to the company’s “commitment to offering solution-oriented products at accessible price points.” She did not mention Neiman Marcus, or any of the other retailers that had recently backed away from carrying Ms. Trump’s increasingly politicized products.In a statement, Ms. Klem attributed the decision to the company’s “commitment to offering solution-oriented products at accessible price points.” She did not mention Neiman Marcus, or any of the other retailers that had recently backed away from carrying Ms. Trump’s increasingly politicized products.
The decision to discontinue Ms. Trump’s fine jewelry line was reported on Friday by Vanity Fair.The decision to discontinue Ms. Trump’s fine jewelry line was reported on Friday by Vanity Fair.
Ms. Trump’s shoes, handbags and clothing lines have become targets for both supporters and detractors of her father, President Trump, in his political rise to the White House.Ms. Trump’s shoes, handbags and clothing lines have become targets for both supporters and detractors of her father, President Trump, in his political rise to the White House.
Many shoppers have rallied behind Grab Your Wallet, a largely grass-roots movement to boycott companies associated with the Trump name. Some companies, like Nordstrom and T.J. Maxx, have pulled back from promoting Ms. Trump’s brand.Many shoppers have rallied behind Grab Your Wallet, a largely grass-roots movement to boycott companies associated with the Trump name. Some companies, like Nordstrom and T.J. Maxx, have pulled back from promoting Ms. Trump’s brand.
After the Nordstrom decision, Mr. Trump and one of his top advisers, Kellyanne Conway, spoke out in support of the brand. By some indications, sales of Ms. Trump’s products took off since those comments.After the Nordstrom decision, Mr. Trump and one of his top advisers, Kellyanne Conway, spoke out in support of the brand. By some indications, sales of Ms. Trump’s products took off since those comments.
“Go buy Ivanka’s stuff is what I would say,” Ms. Conway said last month during an interview on Fox News. “I’m going to give a free commercial here: Go buy it today, everybody; you can find it online.”“Go buy Ivanka’s stuff is what I would say,” Ms. Conway said last month during an interview on Fox News. “I’m going to give a free commercial here: Go buy it today, everybody; you can find it online.”
Representatives for Ms. Trump have said that overall sales of her products increased 21 percent in 2016 compared with 2015. In a statement, Ms. Klem said that February this year saw some of the “best performing weeks in the history of the brand.”Representatives for Ms. Trump have said that overall sales of her products increased 21 percent in 2016 compared with 2015. In a statement, Ms. Klem said that February this year saw some of the “best performing weeks in the history of the brand.”
Ms. Trump licenses her name to various partners who manufacture her products. The largest share of her revenue comes from sales of her clothing, followed by shoes and handbags. Fine jewelry has always made up a small percentage of her overall business, according to company documents and interviews with former employees.Ms. Trump licenses her name to various partners who manufacture her products. The largest share of her revenue comes from sales of her clothing, followed by shoes and handbags. Fine jewelry has always made up a small percentage of her overall business, according to company documents and interviews with former employees.
Jewelry, however, was Ms. Trump’s first major foray into licensing her name. She partnered with Moshe Lax, a New York-based diamond wholesaler, who helped Ms. Trump open a retail location on the Upper East Side of Manhattan in 2007. In 2011, her boutique moved to a sprawling store in the city’s SoHo neighborhood. That location, however, was ultimately not profitable enough to stay open and closed in 2015.Jewelry, however, was Ms. Trump’s first major foray into licensing her name. She partnered with Moshe Lax, a New York-based diamond wholesaler, who helped Ms. Trump open a retail location on the Upper East Side of Manhattan in 2007. In 2011, her boutique moved to a sprawling store in the city’s SoHo neighborhood. That location, however, was ultimately not profitable enough to stay open and closed in 2015.
More recently, Ms. Trump’s fine jewelry has been sold out of kiosk in the lobby of Trump Tower in Midtown Manhattan. More recently, Ms. Trump’s fine jewelry has been sold out of a kiosk in the lobby of Trump Tower in Midtown Manhattan.
In the fall, Lord & Taylor began selling Ms. Trump’s fashion jewelry, which is the product of a new licensing partnership, according to a spokeswoman for the brand.In the fall, Lord & Taylor began selling Ms. Trump’s fashion jewelry, which is the product of a new licensing partnership, according to a spokeswoman for the brand.
Unlike her diamond-encrusted fine jewelry, items in the fashion jewelry line are aimed at a mass-market audience, with many items priced at under $100.Unlike her diamond-encrusted fine jewelry, items in the fashion jewelry line are aimed at a mass-market audience, with many items priced at under $100.
The company projected to make about $300,000 in royalty fees in 2016, according to company documents from 2014 that were obtained by The New York Times. Sales were expected to reach about $7.5 million last year.The company projected to make about $300,000 in royalty fees in 2016, according to company documents from 2014 that were obtained by The New York Times. Sales were expected to reach about $7.5 million last year.
Ms. Trump’s fine jewelry line consisted of diamond bracelets, rings and necklaces that sold for several thousand dollars apiece, like the $10,800 bangle she wore on CBS’s “60 Minutes” shortly after her father won the presidential election. When journalists received a “style alert” from Ivanka Trump Fine Jewelry promoting the item, critics pounced on Ms. Trump, accusing her of using her proximity to the White House to promote her brand.Ms. Trump’s fine jewelry line consisted of diamond bracelets, rings and necklaces that sold for several thousand dollars apiece, like the $10,800 bangle she wore on CBS’s “60 Minutes” shortly after her father won the presidential election. When journalists received a “style alert” from Ivanka Trump Fine Jewelry promoting the item, critics pounced on Ms. Trump, accusing her of using her proximity to the White House to promote her brand.
Ms. Klem blamed a “well-intentioned marketing employee” for the mishap, saying that the company was still figuring out how to move forward appropriately postelection.Ms. Klem blamed a “well-intentioned marketing employee” for the mishap, saying that the company was still figuring out how to move forward appropriately postelection.
Ms. Trump still maintains a financial interest in her namesake brand. But since the election, she has taken steps to distance herself from her business interests.Ms. Trump still maintains a financial interest in her namesake brand. But since the election, she has taken steps to distance herself from her business interests.
Ms. Trump has stepped away from leadership positions at both her brand and at the Trump Organization, where she served as an executive vice president for development and acquisitions along with her two brothers, Eric Trump and Donald Trump Jr., who remain at the company. Ms. Klem was put in charge of the Ivanka Trump company. In addition, Ms. Trump separated her personal and business social media accounts.Ms. Trump has stepped away from leadership positions at both her brand and at the Trump Organization, where she served as an executive vice president for development and acquisitions along with her two brothers, Eric Trump and Donald Trump Jr., who remain at the company. Ms. Klem was put in charge of the Ivanka Trump company. In addition, Ms. Trump separated her personal and business social media accounts.