Last week Betsey Johnson casually alluded to planning "a limited-edition design collaboration with a major retailer" to the Wall Street Journal, and we deduced a diffusion line for H&M or Target was in her crystal ball for the future. Alas, her party dresses and frilly skirts, which would inspire anyone to throw a cartwheel, are not going to end up on the racks of these mass retailers. "The rumors are false," a rep confirmed to People.com. Too bad: She would've been perfect for a diffusion line. Well, at least now the seed is planted. [People.com/Off The Rack]