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Myer Buys 65 percent of Sass and Bide, and gets Exclusive Selling Rights

News Now: Myer Buys A Chunk Of Sass & Bide

Sass & Bide has a new home! The Herald Sun was on the money when they reported that that the iconic Australian label may be bought out by Myer, with the department store announcing acquisition of a 65 percent share in ownership of sass & bide this morning. The $42.25 million deal means that Myer now has the exclusive selling rights, dealing a massive blow to competitors David Jones who currently stock the fashion line. One half of founding/designing duo Sarah Jane Clarke was quoted in the press release as saying "We are very excited to be partnering with Myer, an iconic Australian brand. This partnership will help Heidi and I realise the dream we had for sass & bide 12 years ago when we were selling our jeans at Portobello market in London." With plans to increase the existing number of standalone sass & bide stores from 18 to 30, this is a big opportunity for expansion and success for the local label. Whilst this is great news for the s&b girls, it's perhaps not so great for tomorrow night's David Jones parade....stay tuned!

Image Source: Getty
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