Bally goes to US investment company Regent
Published: Friday, Aug 16th 2024, 10:10
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The traditional Swiss brand Bally has found a new owner - the company is moving to Regent in the USA. This was announced on Thursday (yesterday) by the US investment company and the previous owner JAB Holding of the German billionaire Reimann family. The purchase price was not disclosed.
Bally now appears at the top of the Regent website. The Regent portfolio includes media companies such as Federal Times and luxury brands such as Club Monaco, Escada and La Senza.
"Bally is one of the great, traditional luxury brands in the world," Regent founder and CEO Michael Reinstein is quoted as saying in the joint press release. According to JAB CEO Joachim Creus, Bally has undergone "significant operational and creative development" in recent years. For example, the brand recently adapted its international strategy.
Bally was founded in 1851 by Carl Franz Bally and has its headquarters in Caslano in the canton of Ticino. According to the latest sustainability report, the company employs around 1400 people worldwide. Bally's products include shoes, bags, accessories and clothing.
Werner K. Rey briefly held the majority of shares in 1976, followed in 1977 by the armaments group Oerlikon-Bührle, which in turn sold its Bally shares to the US investment company Texas Pacific Group (TPG) in 1999. In April 2008, the company was sold again - to the predecessor company of JAB.
JAB Holding wanted to sell Bally to the Chinese investment company Shandong Ruyi in 2018. However, the deal did not materialize in the end.
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