clock menu more-arrow no yes

Filed under:

Steve Madden Owns Betsey Johnson

New, 1 comment

Racked is no longer publishing. Thank you to everyone who read our work over the years. The archives will remain available here; for new stories, head over to Vox.com, where our staff is covering consumer culture for The Goods by Vox. You can also see what we’re up to by signing up here.

Steve Madden has upped the ante, buying a controlling share in Betsey Johnson's troubled empire. Last month, Madden "took over a $48.8 million loan to Johnson's firm and has since absolved the loan in exchange for ownership of the brand's intellectual property, including the moderate collection Betseyville," reports WWD. [WWD]