MILAN — After 16 years, Bally has a new owner.
On Thursday, an affiliate of Regent, the owner of Club Monaco and Escada, will reveal it has acquired Bally International A.G. from JAB, WWD has learned.
“Bally is one of the world’s great heritage luxury brands,” said Michael Reinstein, founder and chairman of Regent. “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 honored to be entrusted with shaping the next chapter of this remarkable story.”
Financial details were not disclosed.
The brand is helmed by chief executive officer Nicolas Girotto, who tapped Gucci alum Simone Bellotti as its creative director at the end of March last year. His first collection bowed in September last year to positive reviews. He succeeded Rhuigi Villaseñor.
Creative director Simone Bellotti
Sources said Girotto and Bellotti will remain in their positions following the acquisition.
“Since our first investment in Bally, the brand has undergone significant operational and creative evolution,” said Joachim Creus, managing partner, vice chairman and CEO of JAB.
“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 headquartered in Caslano, Switzerland, and has 1,500 employees worldwide.
The Bally store in New York’s Meatpacking District.
The company has more than 320 stores worldwide and 500 multibrand points of sale spanning 60 countries. Its e-commerce platform serves 61 countries.
Bally collections include menswear, womenswear, shoes and accessories. The Glendale, Scribe and Plum shoes have long been some of the brand’s best]selling shoes.
While declining to provide a sales figure, as per JAB’s policy, Girotto recently told WWD that year-to-date Bally sales rose 20 percent in 2023 compared with 2022.
As reported, adding buzz to the brand, Academy Award-winning actor Adrien Brody is designing capsule collections for the brand. The first was unveiled in June.
Regent has diversified its investments across sectors, including retail, luxury, media, technology, automotive and industrial ranging from Sassoon and Lydech to Boundless Learning, DiamondBack, Redline and DryBar to name a few.
Based in Beverly Hills, Regent also has a media portfolio that includes Sunset, Defense News, Military Times and broadcaster CheddarTV.
Investment holding company JAB is the controlling shareholder of Coty Inc. and is the anchor shareholder of Keurig Dr Pepper Inc., and Krispy Kreme Inc. among others. It first invested in Bally in 2008 and is the former owner of Jimmy Choo and Belstaff.