Content to live out the rest of their days in palatial art deco Palm Beach digs swathed in black maxi dresses, graphic embellishments and tribal print everything with minimal involvement in the fiscal side of their fashion empire, statuesque sass & bide founders Sarah-Jane Clarke and Heidi Middleton have stepped down from the board of directors at the multi-million dollar company they co-founded in 1999 on the strength of artfully distressed denim sold at Portobello markets.
Having sold the remaining 35% stake in their company not already owned by Myer to the department store for a cool $30 million, Clarke and Middleton will still retain their roles and brand and creative directors respectively, as well as places on an advisory board and a crucial role in directing the style of the label and its lacy subsidiaries.
More importantly, the radiant perma-tanned duo will remain the all-important public faces of the extremely bankable brand which, since Myer first purchased a 30% stake in 2006, has gone from strength to strength and delivered impressive growth for investors during the GFC (despite a rough patch in 2009 during which time Clarke said, “No way… We have not sold the company, not ever”), as well as consistent results on international catwalks.
Chase that paper, ladies; never say never.
Photo: Ryan Pierse via Getty