Many thought it was the end of a fashion era last year when the legendary Betsey Johnson (now 70 years old) filed for bankruptcy. All 63 stores were shuttered including the original SOHO flagship. Once the queen of punk, prom and pink, Betsey’s vision started to lose momentum with the rise of fast fashion. The designer, always young at heart put on elaborate fashion shows filled with childlike wonder and ending each presentation in a cartwheel or split. Well it’s a new year and this Tinkerbell of fashion isn’t going anywhere. Mega retailer and shoe mogul Steve Madden stepped in as the new parent company with big plans for the brand. Together next month they will be launching a lower price point line of Betsey Johnson frocks for department stores. Following the launch Betsey and her daughter Lulu will be starring in their own reality tv show come spring and debuting her third fragrance titled Betseyfied this summer. For the past 35 years the Betsey Johnson brand has been built on youthfulness and rebellion. That DNA will still come through in the new collection. Cartwheels and splits to follow.