NATIONAL: Myer fashion and accessories group business manager Judy Coomber will be among four executives to sit on the board of recently acquired brand Sass & Bide.
Ragtrader can exclusively reveal the names who will support the brand’s transition into the department store, after Myer acquired a 65 per cent stake in Sass & Bide for $42.25 million.
Myer executive merchandise general manager Penny Win, marketing and brand development group general manager Megan Foster and chief financial officer Mark Ashby will also sit on the board, as the brand prepares to roll out 30 concessions and a wholesale component from July.
Sass & Bide founders Sarah-Jane Clarke and Heidi Middleton will be kept on long-term employment contracts. It is understood Daniel Besen and Sass & Bide chief executive David Briskin, who purchased 50 per cent of the partners’ stake in 2009, will also be retained as part of the acquisition.
Coomber said there will be no staff changes at the brand house, with existing head office premises and suppliers retained at Sass & Bide’s discretion.
“We will work closely with them to try and offer them support in areas that perhaps they haven’t got the strength in, but we certainly want them to stay independent and ensure that the creative and design aspect is true to the history and heritage of the brand,” she said.
“We obviously see it as an opportunity to build the brand in the business. Sass & Bide have a great profile but there are lots of product categories that they’re not playing in at the moment – we see that as a great opportunity in particular.”
Coomber said the department store is currently focused on the 18-month roll out of Sass & Bide concessions, with locations and concession design details still to be finalised at the time of press. She said the product offer for each store will be decided on by Sass & Bide.
“They’re operating on a concession model, so it will be up to them to decide what’s appropriate for each store. The ready-to-wear will probably be in a select number of stores, and then obviously the denim and [complementary ranges] in a wider group of stores. It’s entirely up to them what they stock in what and when.”
Coomber denied any suggestion that Myer’s involvement in Sass & Bide could pose a conflict of interest with existing fashion suppliers.
“I think they’re all very excited to have such a high profile label join the Myer family. I think it’s good for everybody.”
Sass & Bide currently sells through 150 international stockists and 14 stand-alone sites in Australia.
Assia Benmedjdoub