2024-08-16 11:39:09
Bally has a new owner in the US
Regent is the company name of the 173-year-old luxury brand Bally. The US investment company has reserved the purchase price.
The old Bally house on Bahnhofstrasse in Zurich: photo from March 1999.
Photo Archives: Keystone
Swiss heritage brand Bally has found a new owner – the company will move to Regent in the United States. The news was announced on Thursday by JAB Holding, an American investment company and former owner of the German billionaire Lehmann family. No purchase price was mentioned.
Bally now appears at the top of the website for Regent, whose portfolio includes media companies such as The Federal Times and luxury brands such as Club Monaco, Escada and La Senza.
“Bally is one of the world’s largest traditional luxury brands,” Regent founder and managing director Michael Reinstein said in a joint statement. JAB boss Joachim Creus said Bally has “experienced significant development both operationally and creatively” in recent years. For example, the brand recently adjusted its internationalization strategy.
A luxury brand with Swiss heritage
Bally was founded in 1851 by Carl Franz Bally and is headquartered in Caslano, Ticino. According to its latest sustainability report, the company has approximately 1,400 employees worldwide. Bally’s products include shoes, bags, accessories and clothing.
In 1976, Werner K. Rey briefly took a majority stake, followed in 1977 by arms company Oerlikon-Bührle, which in turn sold its Bally stake to US investment company Texas Pacific Group (TPG) in 1999. In April 2008, the company was sold again to a predecessor company of JAB.
JAB Holding hoped to sell Bally to Chinese investment company Shandong Ruyi in 2018. But the deal never materialized.
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