Sarah Jane Clarke and Heidi Middleton of cult label Sass & Bide have denied rumours that waning sales have jeopardized their business.
News.com.au repots:“FOLLOWING early cult status and a decade of sustained success, the fashion design team behind sass & bide have denied rumours they needed an urgent cash injection to survive. However, Sarah Jane Clarke and Heidi Middleton confirmed they had struck a deal with two businessmen who have come on board as investors.
David Briskin and Daniel Besen have become partners in the fashion company after buying a stake.
Briskin has been working with the design duo in the role of CEO for the past 10 months. Besen, a silent partner brought in by Briskin, is a keen investor who is also heir to the billion-dollar Sussan retail and property fortune.
Clarke and Middleton denied Briskin and Besen, who together built the Mimco business into a company worth between $40-$50 million before selling it off, had bought a controlling stake in the private company – valued at up 70 per cent by business sources.
“No way – we have not sold the company … not ever,” Clarke told Confidential yesterday. “We’ve just welcomed senior partners on board.”
The article also reveals that Sass & Bide plan to expand their retail presence including a flagship store in London.
Image by: Ryan Pierse via Getty
