A year ago designers Heidi Middleton and Sarah-Jane Clarke of Australian fashion label Sass & Bide were in financial strife and had to bring in two investors, David Briskin and Daniel Besen, who injected capital into the business. The pair bought a major stake in the Sass & Bide business as a condition for an AUD1.5 million (USD1.4 million) loan.
Their arrival meant that Middleton and Clarke could concentrate on the creative side of the business. "We have paid up all the money we have borrowed and we now have a very small amount of operating debt," Middleton says.
(Source: The Australian)