"After 17 months in Washington, I do not know when or if I will ever return to the business, but I do know that my focus for the foreseeable future will be the work I am doing here in Washington, so making this decision now is the only fair outcome for my team and partners," she said in a statement.
The company said licensing contracts would not be renewed and those which are currently in place will continue to operate.
The news, naturally, couldn't have escaped the close attention of social media users, with some of them expressing doubts as to whether money from the closed business would stop flowing into the family's pockets, with Ivanka getting "ominously" "closer" to political power and hence, budget funds:
Others indulged in speculation over President Trump's tariffs on China-manufacture goods, with some posting hilarious memes on the subject:
Some said there is no need to worry, citing President Trump's personal business experience:
Many users dwelled on business-client relationships, stating that the company must have hit a roadblock due to no demand and not because of Ivanka's political ambitions.