Ivanka Trump made $5 million with her fashion business last year

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  • Ivanka Trump made $5 million with her fashion label in 2017, The Washington Post reported in June.
  • Trump stepped down from the company’s day-to-day operations in January 2017.
  • The brand announced on Tuesday that it would end its activities.

Ivanka Trump’s fashion business announced on Tuesday that it would close its doors.

“After 17 months in Washington, I don’t know when or if I will ever return to the business, but I know my focus for the foreseeable future will be on the work I do here in Washington,” Trump said in a statement. . . “So making this decision now is the only fair outcome for my team and my partners.”

The news left many wondering how the decision might affect his net worth. While Trump stepped away from day-to-day operations of the company in January 2017, she was still generating revenue from the business.

Since Ivanka Trump is a private company, it is not necessary to publish sales figures. But according to The Washington Post, who in June analyzed the financial disclosure forms Trump is required to submit as a government employee, she earned $12 million from business ventures in 2017 while serving as a senior White House adviser . Most of that income — $5 million — came from her clothing brand.

Trump has had no role in the company’s day-to-day operations since January 2017, when she resigned and was replaced as chairman by Abigail Klem, who had worked for the company since 2013.

Trump placed his business in a trust run by family members and continued to receive a share of its profits.

While his father’s presidency paid more attention to the business, it didn’t always work in his favor. According to The Wall Street Journalthe company’s online sales surged in 2016 and early 2017 after being in the spotlight during the election, but since then have been on a downward trend.

Over the past two years, it has also been a central target of a boycott movement led by Shannon Coulter, a brand and digital strategist, who set up the hashtag #GrabYourWallet to encourage people looking for a way to take action. concretely 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.comand Gilt dropped fashion line Ivanka Trump in the past year.

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

According to Rakuten Intelligence, which looks at aggregate revenue from online shopping, over the past twelve months, sales of Ivanka Trump products on these sites have dropped nearly 45% from a year ago, the wall street journal reported.

Learn more about Ivanka Trump’s brand:

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