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MajorsMar 14, 2017
Ivanka Trump to Discontinue Fine Jewelry Line
After an uncertain few months, the company confirmed Monday that Ivanka Trump Fine Jewelry will no longer be produced but the brand’s newer, lower-priced fashion line will continue.
Pictured here are styles from Ivanka Trump's fashion jewelry line, which is carried exclusively at Lord & Taylor. (Photo courtesy of Kenneth Grzymala)
New York--After an uncertain few months, it was confirmed Monday that Ivanka Trump Fine Jewelry will no longer be produced but the brand’s newer, lower-priced fashion line will continue.
Abigail Klem, president of the first daughter’s eponymous company, said in a statement: “As part of our company’s commitment to offering solution-oriented products at accessible price points, we have decided to discontinue the Ivanka Trump Fine Jewelry collection.
“We will be focusing our efforts on existing and new categories that are most relevant to our loyal customers, including fashion jewelry, which successfully launched last fall with price points that are aligned with the rest of our collection.”
Klem took over as the head of Ivanka Trump early this year as Trump took a leave of absence, stepping away from her day-to-day role in the company while still maintaining ownership (similar to what her father did with the Trump organization).
Of Trump’s various licensing deals, which encompass fashion and accessories, fine jewelry was the entrepreneur’s first, though it has been less profitable than her clothing, shoes and handbags lines, The New York Times reported in an article Monday.
The fine jewelry line’s struggles have included a bitter court battle with Indian sightholder KGK that ended in a $3 million settlement against the brand for breach of contract. In addition, retailers and others commented in a story published by JCKOnline.com last month that jewelers have been dropping the line for some time now due to slow sales and lack of fresh product.
Earlier this year, Nordstrom stopped carrying all Ivanka Trump products, citing poor sales, while Neiman Marcus went back and forth about the fine jewelry line. Ivanka Trump Fine Jewelry disappeared from the department store’s website, then reappeared and disappeared once again. (Neiman Marcus declined to comment on its positions on multiple occasions to National Jeweler.)
While Ivanka Trump Fine Jewelry is no more, it’s probable that Ivanka Trump clothing, shoes, bags and fashion jewelry, which is stocked exclusively at Lord & Taylor, will continue as long as business is sound.
Lyst, an e-commerce aggregator, told Refinery29 this month that sales of Ivanka Trump products had grown 346 percent from January to February this year (jumping in rank from 550 to 11 in sales on the site) and 557 percent in February 2017 compared to the monthly average in 2016.
Lyst’s U.S. public relations director Sarah Tanner told
Refinery29: “Ivanka Trump brand has never ranked in as a top seller on our site. To see such an extreme spike in one month is completely unheard of and came as a huge surprise to us.”
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