The Wall Street Journal reported that the 18 employees of IT Collection LLC were notified on Tuesday, noting that later in the day Ivanka Trump would address the staff directly.
What’s the situation?
In a statement to Page Six, Ivanka Trump said, “When we first started this brand, no one could have predicted the success that we would achieve. 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. So making this decision now is the only fair outcome for my team and partners.”
Trump added that she is “beyond grateful for the work of our incredible team who has inspired so many women, each other and myself included. While we will not continue our mission together, I know that each of them will thrive in their next chapter.”
Launched in 2014, IT Collection LLC is privately held and does not disclose its financials. But a Securities and Exchange Commission filing in 2017 showed net sales of the Ivanka Trump clothing line reaching more than $43 million.
After joining the White House, Trump still continued receiving profits from her company, even though she had stepped away from the business and placed restrictions on operations in an effort to avoid any conflicts of interest while working for her father’s administration.