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9:41 pm - 05/06/2012

Betsey Johnson Files for Bankruptcy‎



Betsey Johnson, the New York City design veteran whose punk-ballerina party dresses are beloved by teens and spunky pop stars alike (Britney Spears was allegedly considering Johnson to design her wedding gown) is filing for Chapter 11 bankruptcy. As a result, WWD reveals, the majority of her line's freestanding boutiques will close down by July, meaning 350 or more workers will lose their jobs.

“I feel so sad for my store people and all my pink girls. They live and die for me. But I need to be better. I really need to work well and be more efficient," Johnson said.

Johnson may be in financial straits, but her public profile isn't in danger of waning. In fact, she's set to shoot a new reality style show, Betsey + Lulu, with her daughter this summer. "I am trying to make it relevant, deep and interesting about fashion rather than about gossip, girls, makeup and hair," she explained.

Meanwhile, Johnson will keep open her colorful flagship stores in New York City, Los Angeles and a few other "key" cities; the pricier main line will be sold in these boutiques, while her more moderately priced "Betsey Johnson" label will receive more focus, as it continues to sell well in retailers such as Macy's. Her second fragrance, Too Too Pretty, will launch this fall.

Source

Source

Idk why this was never posted.
minnoda 7th-May-2012 07:13 am (UTC)
How can she be bankrupt when they charge 300 bucks for a dress that looks like it's out of the teen section of Target
bitch_can_blend 7th-May-2012 07:15 am (UTC)
First thing that popped into my head when I read this
mneiai 7th-May-2012 07:31 am (UTC)
The ones I've tried on have actually been really well constructed, out of really nice materials. No flaws, linings, etc. Comparing them to my Target clothes (or, well, probably F21 would have more similar stuff lol), it would be pretty obvious which one was more expensive. I know it's not a great source, but Project Runway did an ep where the contestants had to design clothes for Nanette Lepore (which is a somewhat similar price point) and the materials and labor for those were pretty expensive.

The shoes have all sucked, though lol
minnoda 7th-May-2012 07:36 am (UTC)
I live in Australia so this is the first I've even heard of this label. I went to the website and was fucking astounded that they charge such extortionate prices for clothes that look totally average.

Edited at 2012-05-07 07:39 am (UTC)
mneiai 7th-May-2012 07:43 am (UTC)
Er, I can't think of many mainstream brands that make clothes that look like hers. Some of her basics, yeah, but she has lots of pieces that you could mostly only find from indie brands, which wouldn't make something average. Or, idk, that could just be for the US, maybe you guys just have more mall goths and stuff there lol
menorahmajora 7th-May-2012 02:22 pm (UTC)
The jewlery is horribly overpriced though. Paid $25 for a pair of earrings, which isn't too shabby until you find they're nickel plated. They irritate my ears so bad.
diaflulz 7th-May-2012 04:19 pm (UTC)
her clothes are made in US sweat shops so employees get paid at least minimum wage. it really adds up.
aviolentwhisper 7th-May-2012 11:37 am (UTC)
Your Target sells dresses like these? BRB moving to Australia



wristtattoos 7th-May-2012 12:11 pm (UTC)
ikr?

we have a betsey johnson outlet and its so happy and fun and pink. i love going in that store
hannahgrace456 7th-May-2012 01:54 pm (UTC)
Perfection.
avpdx 7th-May-2012 09:05 pm (UTC)
ugly as haaallle imo
intothairwaves 11th-May-2012 10:24 pm (UTC)
ahaha. right? I wish target sold anything that looked like her dresses! The detailing is incredible, and nobody uses print and fabrics quite like she does. It's "over the top" without being tacky. I only have ONE betsey johnson dress that I splurged on for an HBO wrap party. From ideeli, it still cost $150 (so it was about 50% off the regular price)... it is the nicest dress I've ever owned and built to last a lifetime. Even the "dressy" dresses from Target fall apart after two wears. It's insulting to even compare the brands.
scornedsaint 7th-May-2012 12:01 pm (UTC)
Because the economy blows and there are a lot less people willing to pay $300 for a dress when they can get the cheaper (albeit less well-made) version at Target.
bent_ley 7th-May-2012 01:26 pm (UTC)
because while all the teenage girls going to prom love her dresses, i dont think she could afford to have her own stores.

she should stick to selling in department sores
letmypidgeonsgo 7th-May-2012 03:43 pm (UTC)
mte
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