Shoe brand Bally put up for sale | RetailDetail

Shoe brand Bally put up for sale

Shoe brand Bally put up for sale
Shutterstock

Austrian investment firm JAB Holding wants to sell Swiss shoe brand Bally, hoping to get at least 600 million euro. The same company sold shoe brand Jimmy Choo not too long ago, as it wants to focus on its food brands henceforth.

Focus on drinks and food

Bally’s sale fits JAB Holding’s strategy to sell its luxury brands. Jimmy Choo has already been sold, Bally is next and that leaves only leather brand Belstaff. The investment firm wants to focus on drinks and food in the future, like its coffee brands (including Douwe Egberts), and its more than 2,000 sandwich shops in the United States and Canada. Perfume and cosmetics firm Coty is also part of the JAB empire.

 

JAB had acquired Bally in 2008, buying it from American investment firm Texas Pacific Group. The shoe brand has a turnover of about 400 million Swiss francs (350 million euro).

 

It was revealed only last month that Michael Kors was luxury shoe brand Jimmy Choo’s new owner. The American fashion company had to pay 896 million pounds (1 billion euro) for the brand. JAB owned 70 % of Jimmy Choo’s shares and announced in April it wanted to find a new owner.

Questions or comments? Please feel free to contact the editors


Gerelateerde items

Belgian FNG Group wants speedy flotation in Brussels

13/06/2018

Belgian fashion group FNG hopes it can enter the Brussels stock exchange as early as next month, in order to secure a lot of new investments for the further expansion of its Brantano chain.

Zalando lets your smartphone choose your gift

06/06/2018

Starting from October, you can literally ask your smart phone which gift it wants to pick for you. Zalando and Google are collaborating on a gift-picking chat bot for the virtual Google Assistant, which is present on all Android phones.

Brantano wants to become "as big as Zalando"

06/06/2018

While Zalando is a strong multinational player, there has to be room in Belgium for a strong local fashion web shop. Dieter Penninckx, FNG Group's CEO, thinks that his brand Brantano can claim that place.

Belgians walk away from Hema acquisition

06/06/2018

Belgian investment fund Core Equity will not take over the Dutch Hema group after all, as an agreement with franchisers about e-commerce could not be reached.

Qatar takes control of chocolate company Galler

29/05/2018

Qatar’s royal family acquired most of founder Jean Galler’s shares in his own chocolate company. In the long run, it will obtain all shares.

Web boutique CarréCouture relaunches after bankruptcy

28/05/2018

Belgian luxury web shop CarréCouture has gone bankrupt after a mere year. The Van Gansewinkel family, known from the waste company and co-owner of this formula, will try to relaunch anyway.