Monday, June 12, 2017

Don Surber: Ivanka's revenge

Don Surber: Ivanka's revenge:
Image result for ivanka trump
Ivanka's revenge
Remember the #GrabYourWallet boycott of Ivanka Trump's product line of shoes, jewelry, and such?
Not only did it lead to a six-fold increase in her sales, as people went online to purchase her products, but it might be a factor in the financial troubles of one chain of stores that boycotted Ivanka.

Racked is reporting that Neiman Marcus has joined Nordstrom as the latest retail giant to drop Ivanka Trump’s namesake line since feeling the effects of the #GrabYourWallet boycott. The grassroots effort has mobilized shoppers to boycott stores that stock Trump’s clothing and accessories, and like last week’s #DeleteUber hashtag frenzy, it seems to be working. The high-end jewelry from Ivanka Trump’s line is no longer for sale on Neiman’s site, and Racked confirmed it’s been pulled from at least one brick-and-mortar store in New Jersey.
The boycott is working, eh?

In 2013, Ares Management and Canadian Pension Plan Investment Board bought the luxury stores of Neiman Marcus for $6 billion in a leveraged buyout. Four years later, things have gone south for Neiman Marcus.

Today, Neiman Marcus, which also owns Bergdorf Goodman in New York, is worth less than its owners paid for it in 2013. 
...Two things to remember: 
1. Liberal boycotts never work. 
2. Feuds with people named Trump always backfire.

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