There is always a cloud of doubt floating above those who are in line to inherit vast sums of money made thanks to the business acumen of their parents. The pressure to succeed, to prove themselves is immense and often they shy away from entering the field in which the previous generation has made its name. Not so with Ivanka Trump, daughter of real estate magnate Donald Trump.
Her father is perhaps one of the most famous businessmen in the world, a genius in the realm of real estate and accomplished in the art of self-promotion. Ivanka, at the age of 27, seems to have inherited much from her father and holds the position of vice president of real estate development and acquisitions at her fathers company.
Trump appears to be unaffected feelings of entitlement, the scourge of the wealthy child. In the past she has talked of the sound grounding imparted to her by her parents, she was encouraged to make her own money while at school, embarking on a modelling career at the age of 16. Appearing on magazine covers, in ad campaigns for a number of world famous designers and hosting beauty pageants, the young Ivanka carved herself a career that, perhaps, relied upon her looks rather than her savvy. But then using your advantages, be they natural or learnt, is one of the oldest tricks in the book and modelling is certainly a cutthroat business.
Trump’s early years saw her attend a variety of Ivy-league private schools, from Choate Rosemary Hall in Connecticut to Chapin in Manhattan. Trump tells of having to pay her own cell phone bills while at school something, you might imagine, that would be alien to other heiresses. After graduating, she attended the prestigious Georgetown University in Washington D.C. before transferring to the University of Pennsylvania’s Wharton School, her father’s alma mater, graduating with a B.A. in economics in 2004.
From then on it would have been easy enough to enter the family business, but that wasn’t the route Ivanka saw for herself. She went to work for Bruce Ratner, a billionaire property developer based in Brooklyn, New York. Ratner set her to work on Ridge Hill, a shopping centre in Yonkers, upstate New York. She did well, with Ratner commenting on her lack of airs and commitment to hard work.
After spending a year with Ratner she moved into the family business, relocating to New York and taking on a mortgage to buy an apartment in Trump Park Avenue building in Manhattan.
Ivanka is clear on the need to grow the Trump brand, to that end she has embarked on a new venture, one that she is spearheading. Trump has launched The Ivanka Trump Jewelry Collection in collaboration with diamond trading firm the Dynamic Diamond Corporation. Ivanka clearly believes in the product, using her own unique selling power to push the brand into the limelight. By being the face of the collection, Trump has put herself out on a limb, but then she’s not exactly a shrinking violet.
Trump is clearly aiming for the very top end of the jewellery market, her first store opened at 683 Madison Avenue, between 61st and 62nd Streets. Clustered around the area are a variety of high-end competitors such as Chopard, Asprey and newcomers like Kwiat. Trump has chosen a tough nut to crack if she’s going to succeed in company like this.
But what does Ivanka Trump bring to the table? Her business experience revolves around property deals, not diamond trading and design. Trump claims her skills are transferable, “There are actually many similarities in the businesses. It is great to have a real estate background that I can apply to my jewellery company as we expand and look for more retail outlets.” Expansion aside, she clearly has a good head for business; she has said time and again that her father would fire her if she wasn’t delivering results. Growing up within the harsh realities of the property trade seems to have given her a useful, adaptable set of skills. But what of her father? Does he have any input into the company? “I have had the opportunity to be independent in business and at the same time I have a close relationship with my family so they always support me,” sounds like she’s got the opportunity to make a move on her own.
There are any number of celebrity-endorsed products out there, but Trump’s collection seems to have a little je ne sais quoi about it. Part of that, Trump says, is down to her upbringing and way of life, “Having grown up surrounded by some of the most amazing diamonds and gems, I wanted to create my own signature pieces not only for myself, but also for those women who love jewellery as much as I do.” Trump has certainly been exposed to some impressive stones throughout her life and she’s also something of an icon these days.
Her time spent within the fashion industry is one thing, but she sits in a particular niche. In the past few years she’s been on the covers of magazines such as Forbes and Harper’s Bazaar, she’s got the appeal she needs for her, self-titled, brand to succeed in the demographic she’s targeting. She’s clear on who she’s going after, “Modern, sophisticated women of all ages who enjoy beautiful jewellery with youthful edge”, she’s certainly got clout within that bracket. She is after all, young, beautiful and incredibly successful, she has the appeal of being fashionably sharp, presenting a face to the world that screams, “Modern Woman”.
Trump isn’t trying to reinvent the wheel here, her designs are classic, yet with a twist. Modern styling combined with a contemporary touch, form the basis of her collection. To that end, the collection contains a large number oval-shaped stones, “It’s a feminine shape, reminiscent of a bygone era,” Trump claims. Classic looks are fine, but in order to stand out you’ve got to offer a little more. The answer lies in a unique touch, coral. “Black and white are classic and coral, my favourite colour adds that punch of colour to our branding. Each piece is inlayed with coral enamel in a subtle spot as our iconic mark.” By all accounts sales are going well, though she’s reluctant to discuss numbers.
Trump certainly seems involved in the design process, citing her love of travel and professional interest in design as major factors. “I love coming up with a new concept. Inspiration comes from everywhere, and because I travel so much I am typically inspired by architecture and design from all over the world. Interpreting my vision on paper and then watching the piece come to life is a thrill!” Individuality is the key, the stones are set in interesting, modern ways and there’s scope for clients to work with the company in order to create something unique, “We always want to make our clients happy so we will of course work with them to create a special piece.” That’s important. Individuality is the major selling point when going for modern, youthful people of either sex. Trump’s understanding of her appeal and of her customer base mean that she’s fully understood this.
The future looks good, rumours of new stores planned for Japan and Las Vegas abound, and the line looks set to establish itself as a high-end name for the modern woman. While she was happy to fill us in on some broad ideas for up and coming products, “Diamonds are the core of my collection but I would love to introduce other stones in the future,” she wasn’t letting anything slip in terms of new stores or radical changes, “We are working on a few things…” was the closest we got.
www.ivankatrumpcollection.com
