Lawd, say it aint so! My beloved Betsey Johnson just filed for bankruptcy! This is really sad because I was just in the store yesterday looking for an outfit and even I couldn’t afford her clothing. A thin teeshirt is like $80 which is unheard of! I always buy her shoes and I have a few of her designer pieces but to put it frankly, it is EXPENSIVE! I own 40 pairs of her shoes but I hardly ever buy her clothes. I did get that teeshirt though because it was super cute, I treated myself lol.
The brand Betsey Johnson LLC filed for bankruptcy and that means that over 60 of her stores may close and a lot of her pinkerrific employees which is around 350 will have to find jobs elsewhere! The company auction is scheduled for May 8th,2012.She will still show at New York Fashion Week but after that she will mainly focus on her cheaper line and stay on as the creative director. Her lower end line is doing well and I saw it in the store yesterday at Perimeter Mall in Atlanta and it’s really cute. I feel bad for her but she will be ok.
“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.” “The competition — the H&Ms, Topshop, Century 21 and the knockoff ability is unbelievable,” she told WWD. “Within three days of something being on the Internet, they have seen it, they copy it and they price-beat it.” Betsey Johnson
On the other hand,congrats goes out to Betsey because she landed her very own reality show coming to your tv’s soon! It’s going to be called, “Betsey & Lulu” that will follow the mother and daughter duo around their day to day lives in Manhattan and focus on how single mother Lulu wants to launch her own fashion label. Did Lulu take ANY notes from her mom’s business? Lawd we will see but I will definitely be tuned in! It will air on the Style Network later this year, how appropriate! I can’t wait! xoxo