The past couple of years have not been very kind to designer, Betsey Johnson. In 2010, Steve Madden came to her rescue by taking control of her £31 million bank loan (about $48 million) which he absolved in exchange for full ownership of the brand (although Johnson remained creative director). Then, in May 2012 Betsey‘s stores began having liquidation sales after filing for Chapter 11 bankruptcy protection in April. But we all know fashion isn’t for the weak, and weak is the last word I would use to describe the vivacious soon to be 70-year-old designer. That’s why — BETSEY’S BACK!
Johnson will be launching a new affordable dress collection that will debut in both department stores and boutiques next spring. This new dress line will reportedly retail between $99 and $249.
However, the resilient designer is trying a new approach. Johnson and Madden have confirmed that the collection will be taking a new direction. New York-based business, The Levy Group, that has produced the Betsey Johnson line for the past five years will now be joining the dress business for the first time. This means that Levy Group design director, Suzi Chin, will now be collaborating with them. The more the merrier!
Johnson is still expected to have a runway show during New York Fashion Week in September.
Source & Images: British Vogue