The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
LUXEMBOURG CITY, Luxembourg — JAB Holding Co., owned by the billionaire Reimann family, has kicked off the sale process for luxury shoe brand Bally International AG, which could fetch at least €600 million ($707 million), people with knowledge of the matter said.
JAB has sent out marketing materials to potential suitors and asked for indicative bids by the middle of September, said the people, who asked not to be identified because the information is private. The sale is expected to draw interest from private equity firms and Asian fashion companies, the people said.
JAB said in April it was reviewing options for Bally to focus on its food and beverage business, which has grown into one of the world’s largest coffee sellers through the acquisitions of Keurig Green Mountain Inc. and Krispy Kreme Doughnuts Inc. Last month the firm bought Panera Bread Co. in a deal that valued the bakery-cafe chain at about $7.5 billion, including debt.
Also in July, JAB agreed to sell London-based shoemaker Jimmy Choo Plc to Michael Kors Holdings Ltd. for about $1.2 billion. A representative for JAB declined to comment on the Bally sale process.
ADVERTISEMENT
Founded in Schonenwerd, Switzerland in 1851, Bally makes luxury leather shoes that range from loafers to fur-lined winter boots, as well as accessories like belts, bags and wallets and clothing for men and women. It was previously owned by US buyout firm TPG, which struggled to turn it around after years of losses. When a unit of JAB acquired Bally in 2008 it had more than 400 million Swiss francs ($411 million) in annual sales.
By Vinicy Chan, Thomas Buckley and Aaron Kirchfeld; editors: Ben Scent, Timonthy Sifert and Andrew Monahan.
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.