Business

Shandong Ruyi May Purchase Bally

By Donovan | January 9, 2018 0 Comments

Bally Spring 2018 Ready-To-Wear.

Shandong Ruyi may purchase Swiss luxury fashion company Bally.

The Chinese company’s name was not on the original list of potential buyers interested in Bally, but Shandong Ruyi is said to be in the running for the takeover of the company.

According to Bloomberg, the Chinese textile group could even currently be in advanced negotiations with the brand’s owner Jab Holding, to the tune of $700 million USD.

Shandong Ruyi is said to be ahead of fellow Chinese groups Fujian Septwolves and Fosun, and even the Japanese company Itochu, for the takeover of Bally International.

Bally was put on sale in April 2017 for 600 million euros by Jab Luxury, the luxury division of the German group Jab Holding, which now wants to shift its focus to consumer goods.

At the time of posting, no deal is sealed and there is still time for another buyer to emerge.