Melania Trump is good for business, and Ralph Lauren could not be happier about it. The first lady wore a custom outfit from the legendary designer at the inauguration of the 45th U.S. president on Friday. One hour after her appearance at the big event, the shares of the corporation soar to $88.90. The baby blue dress and the accompanying coat were also big hits on social media, and many commenters compared Mrs. Trump to Jackie Kennedy at the inauguration of her husband in 1961.
Ralph Lauren was all over the inauguration, failed presidential candidate Hillary Clinton even opted for one of his pantsuits. First ladies tend to have a significant impact on the designers they choose to wear. Michelle Obama wore a piece by Canadian designer Jason Wu in 2009, and after that, he became a huge star. American fashion designer Narciso Rodriguez also benefited from an Obama endorsement in 2016.
Supporters were excited to find out about the Melania Trump effect on Ralph Lauren’s shares, but critics say it was just a small bump and that the new first lady can not move things in a huge way at this time. It will take a few months before she can become an asset, they say.
There is some truth to this argument. Although Ralph Lauren shares did go up to $89.50, they slipped back to $88.70. They initially started at $88.00. There was a bump, but nothing to bring the house down.
Trump supporters do not care for the fine print; they say that Melania Trump is already making American fashion great again.