Ivanka Trump’s brand is about to open a store in the
lobby of Trump Tower in New York, marking her second foray into
brick-and-mortar commerce in the US.
The location on Manhattan’s Fifth Avenue will open on Thursday — just in
time for the last rush of holiday shoppers, according to a person familiar with
the plans. The space is small, but it receives a steady stream of tourists who
throng to the site for selfies.
The move follows a tumultuous year for the first daughter’s brand, which
became more polarising to consumers after the election of Donald Trump. The
business has been threatened with boycotts and lost the support of early retail
partner Nordstrom Inc. With the new shop — and its e-commerce site — the
company is trying to bounce back as more of a direct-to-consumer brand.
The company also has been shifting toward more affordable items, something
that’s reflected in the new store’s selection of handbags and other
accessories. Earlier this year, the business discontinued its fine jewellery
line.
Business and Politics
Ivanka Trump, who serves as a White House adviser, has
been walking the line between policy and business since her father was elected
president. Ivanka Trump Marks LLC, which handles her trademarks, has continued
to seek expansion opportunities, while Trump hotels in Washington and Vancouver
each operate an Ivanka Trump trademarked spa.
She has stepped away from day-to-day management of her brand, which is now
headed by Abigail Klem. Ivanka Trump transferred assets to a trust, but she
hasn’t divested from her companies.
The Manhattan shop is her second branded store in the US Her first was a
fine jewellery boutique on the Upper East Side of Manhattan in 2007, which
moved to the SoHo neighbourhood in 2011. That location closed in 2015,
according to the New York Times. In 2013, the brand opened a luxury store in a
high-end mall in downtown Beijing, but that was shuttered, too.
Opening dedicated storefronts is a popular approach for brands that have
typically relied on other retailers for sales as mall traffic declines and
shoppers’ preference for e-commerce grows. Branded stores allow companies to
bypass department stores and other outlets and gives them control over
products’ presentation and other areas.
Ivanka Trump’s brand licenses the name to wholesale
companies such as G-III Apparel Group Ltd., which make the goods and sell them
to stores such as Lord & Taylor and DSW. But the company has also moved to
sell to consumers directly via the IvankaTrump.com website.
Trademarks for the stylised “IT” letters on the
storefront, which feature Ivanka’s full name below, have been registered by the
US Patent and Trademark Office in recent weeks for use on baby products,
bedding, fashion jewellery and tech accessories, according to government
filings.
source: BoF