3 Months After Bankruptcy Betsey Johnson is Back on the Design Wagon
Remember three months ago when designer Betsey Johnson filed for bankruptcy putting roughly 350 employees out of a job? Well Miss Johnson cannot be kept down. She’s partnering up with The Levy Group and is launching a new dress line.
Chapter 11 does not seem to be the end of the road for designer Betsey Johnson. The soon to be 70-year old is launching a new dress label after the closing of about 75% of her boutiques across the world.
The collection of dresses will be released this Spring and will be sold at “better boutiques and department stores”. Collaborating with The Levy Group’s design director Suzi Chin, Betsey is taking the label in the new direction that they stated at the announcement of their bankruptcy. The dress line is slated to retail between $99 and $249, a more moderate price range than in the past.
This collaboration with The Levy Group is the brand’s first endeavor into the dress business. The family owned company has been established in the outerwear business for the past five years and Betsey, who’s been designing since 1978, has jewelry, accessories, and intimates design under her belt.
This revival of the Betsey Johnson label is one of their last chances to remain in the industry. With the bailout by Steve Madden in 2010, this may be one of Betsey’s last attempts at financial success and hopefully for her, the third time’s the charm.