Swiss luxury brand Bally acquired by private equity firm Regent
JAB Holding Company has sold Swiss luxury brand Bally to US-based investment firm Regent. The sale marks a new chapter for the 173-year-old brand, known for its footwear, fashion, and accessories.
Transaction snapshot
Deal value: N/A
Deal multiples: N/A
Deal type: Acquisition
Investors: Regent
Regent, which owns brands like Club Monaco and Escada, will take over Bally from JAB, the investment vehicle of Germany's billionaire Reimann family. JAB had owned Bally since 2008 and previously attempted to sell it to Chinese conglomerate Shandong Ruyi in 2018, but that deal fell through.
Michael Reinstein, founder and chairman of Regent, praised Bally's heritage and commitment to craftsmanship. He expressed honour in shaping the brand's future.
Joachim Creus, managing partner, vice chairman and CEO of JAB, noted Bally's significant operational and creative evolution during their ownership. He highlighted the brand's global recognition and celebrated creative direction.
Bally, headquartered in Caslano, Switzerland, employs 1,500 people worldwide. The company operates over 320 stores and 500 multibrand points of sale across 60 countries, with an ecommerce platform serving 61 countries.
Current CEO Nicolas Girotto and creative director Simone Bellotti are expected to remain in their positions following the acquisition. Bellotti, who joined Bally in March 2023 after 16 years at Gucci, received praise for his debut Spring/Summer 2024 collection. It was noted for its modern approach to Bally's heritage.
While specific financial details were not disclosed, Girotto recently reported a 20 per cent year-to-date sales increase in 2023 compared to 2022.
The sale follows recent creative changes at Bally, including a short-lived partnership with designer Rhuigi Villaseñor and a new capsule collection designed by actor Adrien Brody.
Regent's diverse investment portfolio includes brands in retail, luxury, media, technology, and other sectors.
