July 25, 2018 11:01 AM EDT

After addressing President Donald Trump’s prediction that Russia will look to help Democrats in the 2018 midterm elections, Stephen Colbert took a few moments to celebrate the shutdown of Ivanka Trump’s fashion brand.

During Tuesday’s episode of The Late Show, the host commemorated the news that Ivanka is shuttering her namesake clothing and footwear company with some pointed comments.

“Today it was announced that Ivanka Trump is closing her namesake fashion brand,” he said. “Yeah, she’s closing down her namesake fashion brand because she wants to spend more time with her namesake fascism brand.”

Colbert went on to take a jab at the fact that Ivanka’s products were made abroad.

“Evidently, her clothes weren’t selling,” he said. “But what’s she going to do with all the unsold product? She’s got all that inventory. Well, hopefully she’ll take a cue from the losing Super Bowl teams and ship it to a developing country. Those kids deserve those clothes. After all, they made them.”

Watch the full clip below.

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Write to Megan McCluskey at megan.mccluskey@time.com.

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