Myer Acquires Controlling Stake In Sass & Bide

Style devotees of Australia, change is upon us. We are amidst an ongoing and not-so-private feud between Australia’s leading department stores, David Jones and Myer, in their bid to not only open our wallets but to gain our undivided loyalty.

Already arming themselves with equally exquisite sun-kissed supermodels as the face of their respective brands, the feuding department stores have now turned to using the fashion labels themselves as bargaining power with their customers.

Earlier today it was announced that one of Australia’s most successful labels, Sass & Bide, has been snapped up out of the hands of David Jones for a rumoured $42.5million, after it was confirmed Myer had purchased a 65% stake in the brand and (now that it is the major shareholder) will be the exclusive department store stockist.

David Jones first signed Sass & Bide to their department store in 2002 and have since established a close relationship with the brand who regularly feature as the star on label in DJ’s fashion parades. So Myer’s strategic little move to takeover one of David Jones’ most successful labels will have surely rocked the retail boat, some would even say, declared a state of war between the two. However, with talk that sass & bide will be launched in approximately 30 Myer stores over the next 18 months, try telling Myer CEO Bernie Brookes, that money can’t buy happiness. He may beg to differ.

By Jess Glass

Title Image by Stuart Wilson via Getty

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