The retailer's Carolee division will operate the newly acquired label.
After 60 years in the fashion apparel industry, he retired in 2005 to Williams Island, Aventura, Fla. with his wife, Sandy Price-Weinstock.
The management team of Tom Wilcher and Robin Sheldon will remain with the company.
Three months after Betsey Johnson LLC filed Chapter 11, the designer is preparing to unveil a new line that will debut in stores this spring.
On Monday, the New York-based apparel firm reported second-quarter earnings that, while down sharply, exceeded analysts’ consensus estimates.
According to a published report in La Repubblica, the designer will instead hold two shows independently.