Bally finally has a new owner. JAB, the investment vehicle of the German Reimann family, has sold the 173-year-old Swiss brand to US investment firm Regent, whose portfolio includes Club Monaco, Escada and La Senza.
“Bally is one of the great luxury brands in the world,” he said Michael Reinstein, founder and president of Regent “We are honored to be entrusted with shaping the next chapter of this extraordinary story.”
The acquisition comes six years after JAB signed a deal to offload Bally to Chinese conglomerate Shandong Ruyi, which later collapsed. JAB has owned the luxury footwear, fashion and accessories brand since 2008 (it is also the controlling shareholder of beauty firm Coty, among other companies).
Joachim Creus, managing partner, vice president and CEO of JAB, added: “Since our first investment in Bally, the brand has undergone significant operational and creative evolution. Today he enjoys global recognition and his latest creative direction has been celebrated around the world. It has been a privilege to own this historic brand and we will watch its future with great interest."
