Bally joins Jimmy Choo on sale
First it was Jimmy Choo, now Bally is on the block as owner JAB Luxury shifts its focus to consumer categories, especially food and beverage.
When news of the Jimmy Choo sale was first revealed it was positioned by the shoe and accessories brand as its own decision with the backing of JAB, its 67 per cent owner.
But JAB subsequently revealed its hand, announcing rival brand Bally International is also up for sale.
Both brands are likely to be eyed by private equity investors and luxury groups like Kering looking to expand their portfolios.
JAB says with a revival apparent in the luxury retail sector spiking share prices, it was timely to review strategic options for the two companies.
Bally was acquired by JAB subsidiary Labelux in 2008 and subsequently added Jimmy Choo to the fold. But the company has since diversified into food, buying companies as diverse as Panera Bread, Caribou and Krispy Kreme Doughnuts.
The company also owns 37 per cent of cosmetics giant Coty, which makes a products under licence to a raft of different luxury brands, including Burberry, with which it recently signed a new deal.
If JAB finds a buyer for Jimmy Choo and Bally, it begs the question of the future of British luxury jacket brand Belstaff, also in its fashion portfolio.