Updated

Co-founders of Australian fashion label Sass & Bide, Sarah-Jane Clarke and Heidi Middleton, have resigned as company directors.

The move comes just several months after department store Myer took full ownership of the label.

In September, Myer acquired the remaining 35 per cent of the business, with the sale estimated to have been worth around $30 million.

Clark, who is currently brand director of Sass & bide; and Middleton, creative director of the label; started the business in 1999.

“It’s been close to 15 years since we launched Sass & Bide and we’re looking forward to the next chapter,” said Clarke.

“The September announcement brings with it a fresh energy for the future, and as we expand internationally, it’s an exciting time for the business.”

The fashion duo will remain closely involved with the business, retaining their current roles, as well as sitting on an advisory board. There are no changes planned for the business, with Sass & Bide stating it will continue to operate completely separately and with complete autonomy from the Myer business.

“At every stage along the way, the business has maintained its integrity, creative spirit and its autonomy. That will remain long into the future,” said Middleton.

“It’s always been our dream to see sass & bide flourish internationally and now that’s a reality, we couldn’t be happier. sass & bide is our baby and always will be.”

Since 2011, Sass & Bide has delivered a consistently strong performance, growing sales by 45 pe rcent and more than doubling profit over the period.

The company achieved double digit sales and profit growth in FY2013.

Last month, Inside Retail Premium spoke exclusively with Sass & Bide MD, Megan Foster, about the company’s plans to open a flagship in New York.

“It’s an incredibly exciting time for Sass & Bide. We have a fantastic team and I look forward to continuing to bring the creative vision of Heidi Middleton and Sarah-Jane Clarke to life well into the future,” Foster said.