Swiss luxury brand Bally International AG has been sold by German investment firm JAB Holding to an affiliate of Regent, the owner of Escada and Club Monaco.
The news was confirmed in a press release, in which founder and chairman of Regent, Michael Reinstein, said: “Bally is one of the world’s great heritage luxury brands.
“Its legacy, built on over 170 years of timeless design and unparalleled quality, is a testament to refined Swiss elegance and an unwavering commitment to craftsmanship. We are honoured to be entrusted with shaping the next chapter of this remarkable story.”
Financial terms of the deal had not been disclosed, however, according to sources for WWD, current CEO Nicolas Girotto and creative director Simone Bellotti are to remain in their positions following the acquisition.
‘It has been a privilege to own this storied brand…’
In his own statement, Joachim Creus, managing partner, vice chairman and CEO of JAB, added: “Since our first investment in Bally, the brand has undergone significant operational and creative evolution.
“Today it enjoys global recognition and its latest creative direction has been celebrated worldwide. It has been a privilege to own this storied brand, and we will watch its future with great interest.”
Bally is currently headquartered in Caslano, Switzerland, and operates over 320 stores worldwide with a total of 1,500 global employees.
Since Bellotti’s appointment back in May 2023, Bally has undergone a visual identity shift as part of efforts to rejuvenate its signature codes in the context of the present day.
Part of this change was evident in a renewed store concept initially revealed in New York and later applied to its reopened Zurich store in July 2023, the first store in Europe to receive the updated design.
This article was updated 10:55 CEST, August 15, after FashionUnited received a press release confirming the news.