Betsey Johnson

The fashion world has always loved Betsey Johnson's whimsical personality and outrageous designs. But nobody would put money on her when she decided to start her own company. Could she really build a successful business around silver micro minis and pink tutus? Johnson thought so. It was the late 1970s, and punk rock was the rage. It was her big chance. So she scraped together some savings--including money she'd earned starring in a Bayer aspirin commercial--and, along with ex-model Chantal Bacon, started the Betsey Johnson clothing label.

With a mop-top of blond hair, a tattooed bosom, and a penchant for turning cartwheels, Johnson's not your typical retail magnate. Financial independence has allowed her to stay true to her design sensibility, which she tweaks to keep up with changing fashion trends. "She's always mined the same roots," says Stan Herman, president of the Council of Fashion Designers of America, which bestowed a "timeless talent" award on Johnson in 1999. "Very few people have been able to raise their arms and hold the hands of the clock like Betsey."

Johnson has also managed to thrive in the notoriously fickle fashion industry while many independent design labels have sold out to large corporations. Johnson, who owns the majority of her business, has avoided the trend toward consolidation, focusing instead on slow, organic growth. Her strategy has been successful: read more...