Ivanka Trump is dropping her fine jewelry line in favor of a more "affordable" one to better match her customer base, both Vanity Fair and Refinery29 are reporting.
President Donald Trump's daughter started her fine jewelry collection in 2007, and Vanity Fair describes the decision to close it an evolution of the brand, with the help of last year's campaign.
Refinery29 said Ivanka Trump's latest brand research determined that her customers are likely from 25 to 40 years old, with an income of about $60,000 to $100,000 a year, and probably live in New York, California, or Texas.
"In the last year, the Trumps have somehow repositioned themselves from the sort of people who live in a Liberace-like triplex to fast-food-eating, approachable bunch that you might see in the lobby of a Holiday Inn, where they would stay during the campaign when their private jet did not take them back to Trump Tower after a day on the trail," said Vanity Fair's Emily Jane Fox.
"The mission that we set out three-and-a-half years ago was to inspire and empower women to create the lives they want to live, and I feel like [Ivanka is] doing that now," Abigail Klem, president of the brand, told Refinery29. "She actually feels like she's living the mission of the brand."
According to USA Today, the jewelry line will focus "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."
The New York Times said some shoppers have rallied behind the Trump business boycott effort Grab Your Wallet, which list more than 60 business related in some way with the president and his family.
Nordstrom, Neiman Marcus, Shoes.com, Belk, and Jet.com have all dropped Ivanka Trump items since January, according to the Business Insider.
Despite that, Ivanka Trump's representatives said they experienced a 21 percent increase overall in sales in 2016 over 2015, noted the Times. Klem added that February was the "best performing weeks in the history of the brand."
Ivanka Trump also licenses her name to various partners who manufacture her products, with the largest share of her revenue coming from sales of her clothing, followed by shoes and handbags, said the Times.
© 2024 Newsmax. All rights reserved.