"We've seen strong sales since the brand's inception, which continued through this year with the successful launch of our rapidly growing e-commerce business", Abigail Klem, president of the Ivanka Trump brand, said in the emailed statement.
She pitched the label as a mid-priced fashion and lifestyle company, geared towards working women, which was stocked by USA department stores such as Macy's, T.J. Maxx, Nordstrom and Neiman Marcus. In 2011, according to a report in InStyle, Trump entered the apparel industry after already delving into high-end shoes, handbags, jewellery line and footwear.
I get that. After all, in January 2017 her company had to drop a distribution deal in Japan that involved a partnership with a Japanese company with ties to the Japanese government.
The Nordstrom and Neiman Marcus department stores both axed her line a year ago, blaming slow sales after pressure from activists to boycott shops doing business with the Trump family.
In April a year ago, the Chinese government granted her company provisional approval for three new trademarks, the same day she and her husband Jared Kushner dined with the president of China and his wife at President Trump's Mar-a-Lago resort.More news: Dominic Raab: Britain making plans for a 'Brexit no deal'
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"I am very grateful for the opportunity to have led such a talented and committed team".
Trump's fashion label had long faced criticism that she was using her status as the president's daughter to increase sales.
Ivanka Trump said Tuesday that dissolving the business was "the only fair outcome" for her staff, given her focus on her work in the capital.
Ivanka Trump is turning her back on her fashion line to focus on her responsibilities as a White House senior adviser. "She reportedly realized that there were too many potential conflicts of interest to avoid, something many observers warned about from the beginning", Noah Bookbinder, the executive director of the watchdog group Citizens for Responsibility and Ethics in Washington, said in a statement.
Ivanka Trump is out of fashion. China has said its trademarks policy regarding Ivanka Trump's company is in line with normal legal practice.