January 15, 2015

Two beautiful ladies leaving

A news column in theguardian.com on Friday, 4 July 2014 reported that “Australian fashion royalty Heidi Middleton and Sarah-Jane Clarke are leaving the label they founded, sass & bide. The Sydney-based designers have quit their namesake label after 15 years.”

Seeing the picture of two beautiful ladies next to the column, a feeling of pity flew through me. “Unlucky, most probably they went bankrupt,” I thought.

Though my reaction changed quickly as I read the next sentences. “Myer bought 65% of the brand for $42.5m in 2011, and took full ownership last September. Since then Clarke and Middleton have reduced their roles in the company and worked as creative directors.” I guess it was time for them to fly to new destinations with “some” money in their bank accounts. ☺

When you sell part or all of your business, the new shareholders will almost always ask you to remain in the company for a certain period of time. As the owner of the business you have “valuable knowledge” to transfer to the new owner. You might even like your position after the sale and stay longer than was agreed upon.

When I sold my last company, I had the same position as before the sale – and much less risk in my life. As far as I remember, my migraines vanished too. ☺

theguardian.com reports that the managers of sass & bide said in a statement.“Both Heidi and Sarah-Jane have been slowly transitioning out of the business, and it has now reached a point where both girls feel confident that the business will go on to grow and thrive without their day-to-day involvement.”

To read the whole article: sass & bide founders Heidi Middleton and Sarah-Jane Clarke quit the label

The oldie of the week: Cat Stevens – Morning Has Broken (1973)

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