Betsey Johnson: Is The Party Over?
Just found out that Betsy Johnson, known for her pink frilly party dresses, has filed for Bankruptcy! Owner Steve Madden still has faith in the brand, but the brand plans to dismiss 350 employees and downsize their 63 store locations. It is crazy because her last runway show had excellent feedback and reports say that her wholesale business is up 50%. Only time will tell to see how this 34 year brand will fair during this deflation.
Since I moved to Vancouver, Betsey Johnson has been my store for retail therapy. The atmosphere takes me to another place where I can escape from whatever is currently bothering me and get lost in tulle, frills and leopard print. Me and my old roommate used to grab a cupcakes, from the Cupcakery, and walk down and gaze at all her pretty dresses whenever we were having one of those days.
Today I decided to go downtown to see how the Vancouver store had been affected by the news. As I walked in everything looked perfectly normal: the store is stocked with flirty dresses, cardigans, purses, sunglasses, swimwear, leg wear, belts etc. There were no extravagant sales, notices, or signs of the bankruptcy. But when I started to talk to the sales representative, she said that they were closing shop in a months time and that everything was staying at its normal price and then the rest would just be taken back. So if you have not already, go down and pick that little piece of Betsey before it is too late!