US private equity firm Regent acquires Swiss luxury brand Bally
US private equity firm Regent yesterday announced the acquisition of Swiss luxury leather goods brand Bally. The transaction was conducted through a subsidiary of Regent, with the seller being Jab Holding Co, a European investment company controlled by the German Reimann family. Founded in 1851 in Schonenwerd, Switzerland, Bally primarily produces and sells luxury leather shoes (including loafers and winter boots), as well as men’s and women’s clothing and accessories (such as belts, handbags, and wallets). The company was previously owned by the American private equity firm TPG, which successfully turned around its years of losses. In 2008, Jab acquired Bally, which then had annual sales exceeding $411 million. Bally is currently headquartered in Caslano, Switzerland, and operates over 320 stores and more than 500 points of sale across 60 countries.