Mercedes Walker Entrepreneurship, HDCS 3369 Assignments for Chapters 1 - 3 September 12, 2016
Assignment 1 The retail founder that I chose was Betsey Johnson, who has owned her own self-titled brand since 1978. I chose Betsey Johnson because she is a personal favorite of mine. Anytime I see any of her merchandise either in Macy’s, Ross, and other retailers, I scream on the inside. She has been my inspiration of being an entrepreneur since I was in high school. Creating fashion has been played a big part in Betsey’s life since she graduated college. Before creating her own fashion line, she worked for New York boutique “Paraphernalia” and became the lead designer for “Alley Cat.” Her name and her style was everywhere! She literally became the new trend! However, her success hit a pit fall when she lost her target market of women but that did not slow her down. Surprisingly, punk music became Betsey’s spark to begin her own fashion line. She partnered with Chantal Bacon and opened her first retail store in Manhattan in the SoHo district. From there, it became history. Currently, Betsey Johnson has over 40 stores internationally, and her merchandise can be found in department stores and “over 1000 specialty stores” across the world. Betsey Johnson has one daughter named Lulu who also owns her own self-titled label! Susan Faulk has been the new CEO of Betsey Johnson for six years now, but in no way does she interfere with Betsey having design control over her merchandise. No matter what comes Betsey’s way, she always knows how to maneuver and make a negative situation work out for her favor, which is something I truly admire from her. Her work ethic is impeccable and her talent is out of this world!
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