Firm declares Ivanka Trump brand is booming
- Author: Rita Burton Mar 12, 2017,
Mar 12, 2017, 0:57
Despite calls to boycott the fashion brand and the controversies surrounding Ivanka's father, President Donald Trump, the fashion firm is reporting record sales figures.
Online fashion store Lyst, one of the largest in the world, reported skyrocketing sales of Ivanka Trump products on February 9 - the same day Conway told Fox viewers she "hates shopping", but that she would "get some, myself, today".
Abigail Klem, who took over as president of the fashion label after the election, confirmed the company's rapid growth online since last month, though she declined to provide specific sales figures.
-After several major department stores, including Nordstrom and Neiman Marcus, dropped Ivanka Trump's products, citing poor performance, the company's revenue boomed in February, mostly from online sales.More news: Zacks Provided 1.3 Rating to Finisar Corp. (NASDAQ:FNSR)
"Since the beginning of February, they were some of the best performing weeks in the history of the brand". If the sales in February 2017 is compared to the average order in 2016, the brand's sales is revealed to have increased 557 percent.
What was most interesting, however, was the date of the biggest one-day spike, a day when sales had risen by a whopping 219 percent from the previous day. "To see such an extreme spike in one month is completely unheard of and came as a huge surprise to us", Sarah Tanner, Lyst's U.S. spokesperson, said. The company's perfume became Amazon's bestseller, and the online giant replaced Nordstrom as the largest seller of the brand, CNBC reported on Thursday. For instance, interest in pantsuits went up by 460 percent a year ago because of Hillary Clinton's affinity for the style, she said.
As she addressed President Trump's tweets calling out the retailer for dropping Ivanka Trump products during an appearance on "Fox & Friends", Conway urged viewers to "go buy Ivanka's stuff".
At Macy's, sales for the brand were up over 148%, while at Bloomingdale's they increased by 29.5% showed information from the research firm. SimilarWeb said it also saw search traffic for the brand. I support the Trumps! According to popular retail search engine Lyst, February was the best month the brand has ever had on the search engine.
Nordstrom stock was up 4% during the period as well, but is lower by over 7% on the year. And then I think a lot of other people feel like, 'Oh, I didn't know Ivanka had a shoe line.