to a stampede
from Trump brand
Ivanka Trump’s branded products are a casualty of her father’s presidency.
Few global businesses would dare lose over a billion potential customers in a week.
The Trump family empire just did.
To the 120 million Mexicans who certainly won’t be shopping “Trump” anytime soon, we can now add more than a billion Muslims and the 25 million Australians the president insulted last week – quite apart from the 63 million who voted for Hillary Clinton.
As Donald Trump wages his twitter war against a growing slice of the global population, signs are emerging that it is taking a toll on his brand – a business he shares with other members of the First Family.
The list of famous firms distancing themselves from the Trump brand is growing daily, and could soon become a stampede.
Just a couple of weeks after Trump’s stunning election upset, the first highly visible fallout for his brand occurred just a few blocks from his home in New York City.
The Trump name was removed from the “Trump Place” building as the BBC reported on Nov. 17 in The Trump resistance movement builds.
The BBC report on the “Trump Place” building removing the name of the president. Click image to enlarge.
“Not surprisingly, many are trying to use their wallet to punish Donald Trump, his business empire, his children’s business interests, as well as any businesses that supported the Republican candidate’s campaign.
“… Residents in several New York City west side apartment buildings bearing Mr. Trump’s name have voted to remove the moniker from the premises.
“The property firm that owns the buildings said it was adopting “a neutral building identity that appeals to all current and future residents.”
It was not limited to the real estate part of the empire.
As long ago as October, the nascent movement “Grab your Wallet” started taking direct aim at the one thing the president is likely to feel most: his global brand.
According to its web site, “the Grab your wallet movement tracks & boycotts retailers that sell Trump family products as well as corporate leaders who enabled the political rise of the Trump family through fundraising and/or endorsements.
“The #GrabYourWallet boycott began Oct. 11, 2016. Since then, the hashtag and the movement exploded on social media and has been viewed over 500 million times. [Today], the #GrabYourWallet boycott has grown into a movement and central resource for the flexing of consumer power in favor of a more respectful and inclusive society.”
Early successes included shoes.com (which dumped the Ivanka Trump brand) and interior decorator Bellacor (which did the same to her father).
Currently, the top ten companies listed on its web site include Nordstrom, Macy’s, LL Bean and Bloomingdales.
In the past week, Neiman Marcus announced it was dropping Ivanka Trump products, while Nordstrom quietly “disappeared” them from its web site. Macy’s had dropped the Trump line at the beginning of the president’s campaign when he called Mexican immigrants “killers” and “rapists.”
The week of defections was brought into focus on Sunday in The New York Times story Early Signs Suggest Trump’s Actions Are Taking a Toll on Trump Brand
The story in The New York Times about the damage done to the Trump brand so far.
“Major companies appear to be re-evaluating their relationships with the Trump brand, which, in some instances, does not appear to have benefited from Mr. Trump’s presidency,” The Times reported.
“Hinting at lackluster sales, Neiman Marcus confirmed on Friday that it had dropped Ivanka Trump’s jewelry line from its website. A day earlier, her brand had disappeared from Nordstrom.com, a move reported by the fashion news site Racked.
“Companies also seem worried about how protests over the president’s actions, particularly his recent executive order on immigration, could hurt sales.”
It may be too soon to tell whether the brand’s sales are actually declining, but the controversy surrounding President Trump’s policies is not going to diminish any time soon and this may be sufficient to prod other retailers to dump Trump-branded products. It may just not be worth the bother.
As reported in The Times story: “Retailers around the country are going to say, do we need the aggravation or not,” said Wendy Liebmann, chief executive at WSL Strategic Retail, a consulting firm. “It’s hard to imagine that if a brand is really, really doing well, a retailer like a Nordstrom or Neiman Marcus would cut off their nose to spite their face.”
Upending the lives of thousands of aspiring immigrants and offending the populations of entire countries may not move the US president, who continues to tout the “success” of his policies.
But the budding economic backlash is bound to get the attention of this egomaniac, who plastered his name on everything from steaks to wine, buildings and even a fake “university.”
And it is just getting started. Imagine the horror when, six months from now, the president is told that his global empire is on the skids.
Perhaps the only good outcome for the US from its 45th president will be when the Trump brand disappears into oblivion.
Who will he blame for that?
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