09
- 755
South spin holdingss acquisition of knitted shoe manufacturers wants to reduce its dependence on UNIQLO.
- Type： 公司动态
As the global geopolitical and industrial turmoil continues, the fashion industry has seen several big luxury mergers and acquisitions since the beginning of this year, and Bally, with a history of more than 160 years, may become the latest luxury brand to seek sale.
Bally, a Swiss luxury brand owned by JAB Holding Co., has launched a sale process, with insiders predicting a deal price of about $700 million, according to Bloomberg. Bally, previously owned by TPG, a US private equity fund, was acquired by JAB in 2008 for $650 million, when annual sales exceeded $411 million.
It is reported that potential buyers have received JAB issued relevant information, preliminary plan to provide guidance in mid-September quotation. Some analysts predict that Bally's potential buyer may be an Italian company or an investor from China. Up to now, JAB has not responded to the news about the sale of Bally.
Founded in 1851, Bally is a Swiss luxury brand that started with shoemaking. With its rigorous craftsmanship and exquisite design, Bally has gradually grown into a highly creditable luxury brand, and entered the Chinese market in 1986. It is also the first luxury brand to enter China.
In April, JAB said for the first time that it would focus on consumer goods such as coffee and food and planned to spin off its fashion business and sell its two luxury brands. Michael Kors bought British luxury shoe brand Jimmy Choo from JAB for $1.2 billion on July 25 after a round of bids from Coach, Michael Kors and Chinese buyers.
Some analysts pointed out that JAB chose to quit the luxury fashion industry is the right choice, because its strength mainly lies in the consumer goods industry. JAB was renamed Labelux, which invested in fashion brand Derek Lam, jewelry brand Solange Azagury-Partridge and luxury leather accessories brand Zagliani. The first two brands have been "redeemed" and Zagliani's Milan-based workshop was used by Bally after it was shut down.
It is interesting to note that in an exclusive interview with Fashion Headline, Bally CEO Fr D ric de Narp said the brand had agreed with JAB that it was a good time to sell Bally to investors willing to put more effort into the brand. Statistics show that brand sales grew by 4% in fiscal year 2016, profit before depreciation amortization by 100% and sales through wholesale channels by 20%. The tourism and retail department responsible for the airport duty-free stores grew most strongly, though Fr D ric de Narp declined to give further details, but said the brand had the fastest annual sales. It will enter the euro 1 billion club in 2021.
Bally, a Swiss luxury brand owned by JAB Holding Co., has launched a sale process, with insiders predicting a deal price of about $700 million, according to Bloomberg. Bally, previously owned by TPG, a US private equity fund, was acquired by JAB in 2008 for $650 million, when annual sales exceeded $411 million.
It is reported that potential buyers have received JAB issued relevant information, preliminary plan to provide guidance in mid-September quotation. Some analysts predict that Bally's potential buyer may be an Italian company or an investor from China. Up to now, JAB has not responded to the news about the sale of Bally.
Founded in 1851, Bally is a Swiss luxury brand that started with shoemaking. With its rigorous craftsmanship and exquisite design, Bally has gradually grown into a highly creditable luxury brand, and entered the Chinese market in 1986. It is also the first luxury brand to enter China.
In April, JAB said for the first time that it would focus on consumer goods such as coffee and food and planned to spin off its fashion business and sell its two luxury brands. Michael Kors bought British luxury shoe brand Jimmy Choo from JAB for $1.2 billion on July 25 after a round of bids from Coach, Michael Kors and Chinese buyers.
Some analysts pointed out that JAB chose to quit the luxury fashion industry is the right choice, because its strength mainly lies in the consumer goods industry. JAB was renamed Labelux, which invested in fashion brand Derek Lam, jewelry brand Solange Azagury-Partridge and luxury leather accessories brand Zagliani. The first two brands have been "redeemed" and Zagliani's Milan-based workshop was used by Bally after it was shut down.
It is interesting to note that in an exclusive interview with Fashion Headline, Bally CEO Fr D ric de Narp said the brand had agreed with JAB that it was a good time to sell Bally to investors willing to put more effort into the brand. Statistics show that brand sales grew by 4% in fiscal year 2016, profit before depreciation amortization by 100% and sales through wholesale channels by 20%. The tourism and retail department responsible for the airport duty-free stores grew most strongly, though Fr D ric de Narp declined to give further details, but said the brand had the fastest annual sales. It will enter the euro 1 billion club in 2021.