SEC filings show Steve Madden absorbed a substantial outstanding loan just shy of $50 million to Betsey Johnson, which potentially places the brand in a position to take over the designer label.
The jist of the financial jargon indicates that Madden's acquisition of the loan allows Betsey Johnson until August 2012 to repay the debt. If it's not resolved, however, Steve Madden would then own the brand. According to the WWD report, the sides are in discussion on strategy to settle the score, which one hopes will result in an amicable partnership.
There's a lot to be gleaned from the nitty-gritty financials, including terms of Steve Madden's existing licensing agreements with Betsey Johnson and what the potential takeover could mean for Johnson and her namesake brand. She's such a beloved figure—and fixutre—in the industry, that its unlikely anyone would want to see her falter.
