Ivanka Trump announces closure of fashion brand
The 36-year-old, who has been frequently photographed wearing shoes from her label, stepped away from the company to work in the White House as an adviser to her father, President Donald Trump, but continued to profit from the brand.
While the clothing, footwear and accessories brand experienced a surge in sales in 2016, the year that Mr Trump won the presidency, it suffered a backlash after he took office, and has been axed by a growing number of retail chains.
POLITICAL AMBITIONS
As First Daughter, Ms Trump has travelled overseas representing the US, attended meetings with heads of state and travelled domestically, fuelling speculation that she may harbour political ambitions of her own.
“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.
US watchdog Citizens for Responsibility and Ethics in Washington (Crew) called on the Trump family to divest from all assets, saying they should have done so before entering the White House.
“While this is a notable step in the right direction, it is a small one that comes much too late,” said Crew executive director Noah Bookbinder.
Reports that the brand would file for new trademarks “raises questions as to how serious this ‘shut down’ really is and whether the brand will continue to create conflicts of interest,” he added.
Crew revealed in May that the brand had been granted five business trademarks in China, just days before Mr Trump suddenly scrapped a US technology ban imposed on Chinese telecom firm ZTE.– AFP
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