US investment firm Regent LP has acquired Bally. | kbnmart

California investment firm Regent LP has acquired Swiss footwear and fashion brand Bally. The Beverly Hills-based company and Bally’s former owner, Jab Holding, is owned by Germany’s billionaire Reimann family, the company said in a statement. The value of the deal was not disclosed.

Regent LP’s brand portfolio includes media companies such as the Federal Times, and the Club Monaco, Escada and La Senza brands. “Bally is one of the great heritage luxury brands in the world,” said Michael Reinstein, founder and chairman of Regent LP. According to Jab Holding CEO Joachim Kruse, “Bally has undergone significant operational and creative transformations in the past few years.”

The brand was founded in 1851 by Carl Franz Bally and is headquartered in Caslano, Switzerland. Bally employs around 1,400 people worldwide and produces shoes, handbags, accessories and ready-to-wear. In 2018, Gap Holding considered selling the brand to Chinese conglomerate Shandong Rui, but no deal was reached.