MILAN — After 16 years, Bally has new owners.
On Thursday, an affiliate of Regent, owner of Club Monaco and Escada, is expected to announce the acquisition of Bally International AG from JAB, WWD reports.
“Bally is one of the world’s most legendary luxury brands,” said Michael Reinstein, Founder and Chairman of Regent. “Its heritage, built on a foundation of timeless design and unparalleled quality for more than 170 years, is a testament to refined Swiss elegance and an unwavering commitment to craftsmanship. We are honored to be entrusted with shaping the next chapter of this incredible story.”
Financial details were not disclosed.
The brand is led by CEO Nicolas Girotto, who appointed Simone Bellotti, formerly of Gucci, as creative director at the end of March last year. Bellotti’s first collection was presented to positive reviews last September. Bellotti succeeds Luigi Villasenor.
Creative Director Simone Bellotti
According to sources, Girotto and Bellotti are expected to remain in their current roles after the acquisition.
“Since our initial investment in Bally, the brand has undergone significant evolution both operationally and creatively,” said Joachim Kleus, managing partner, vice chairman and CEO of JAB.
“Today the brand is recognised globally and its latest creative direction has been praised around the world. It is an honour to own this historic brand and we will be watching its future with great interest.”
Bally is headquartered in Caslano, Switzerland, and employs 1,500 people worldwide.
A Bally store in New York’s Meatpacking District.
The company has over 320 stores worldwide and 500 multi-brand points of sale across 60 countries. Its e-commerce platform serves 61 countries.
Bally’s collections include menswear, womenswear, shoes and accessories. The Glendale, Scribe and Plum shoes have been some of the brand’s best-selling shoes over the years.
While he declined to disclose sales figures due to JAB policy, Gillott recently told WWD that Bally’s sales so far in 2023 are up 20% compared to 2022.
Oscar-winning actor Adrien Brody is reportedly designing a capsule collection for the brand, generating even more buzz for the brand, the first of which was released in June.
From Sassoon and Rydec to Boundless Learning, Diamondback, Redline and Driver, Regent has diversified its investments across a variety of sectors, including retail, luxury, media, technology, automotive and industrial.
Beverly Hills-based Regent’s media portfolio also includes Sunset, Defense News, Military Times and broadcast station Cheddar TV.
JAB, an investment holding company, is the controlling shareholder of Coty Inc. and is also a major shareholder in Keurig Dr Pepper Co. and Krispy Kreme Co. It first invested in Bally in 2008 and is also the former owner of Jimmy Choo Ltd. and Belstaff Ltd.