Myer bought 65% of the brand in 2011 and has now bought the remainder as well. Such a shame to see another designer step down from their label such as Collette Dinnigan and Alannah Hill recently.
Although the duo will stay as brand director and creative director, I fear now this will mean the label will no longer produce as good quality pieces. Myer has suggested they will use this move to expand the label into other areas, which we can read as accessories, diffusion lines and other 'branded' items.
Unfortunately, its often these items that return the greatest profit, but it means the brand loses some of their exclusivity and uniqueness.
Its very rare that a diffusion line is a true representation of a label and I haven't seen many work well before.
In saying that, they are set to launch their very first international store in New York this month on November 20! Stay tuned, we wish them the best of luck!
A great article on the exact figures can be read here http://www.smh.com.au/business/retail/sass--bide-founders-step-down-from-board-20131107-2x3dw.html
