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Article: Innovo drops its 'experiment' with Betsey Johnson fashions.(B.J. Vines Inc)(Innovo Group Inc)
- Article from:
- Los Angeles Business Journal
- Article date:
- August 8, 2005
- Author:
CopyrightCOPYRIGHT 2005 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BETSEY Johnson's boutique is credited with helping revive Melrose in the 1980s, and the designer continues to sell her dresses and tops throughout the world. But her premium jeans have turned out to be a dud for Innovo Group Inc.
The City of Commerce-based clothing manufacturer inked a four-year deal in 2004 with Betsey Johnson licensor B.J. Vines Inc. to manufacture a Johnson line of jeans and related tops for high-end department and specialty stores.
According to the licensing agreement, Innovo expected sales of Johnson's apparel to total between $2.5 million and $5.5 million, which would have earned Johnson royalties of at least about $1.3 million. ...