Regent, parent of Escada and Club Monaco, has acquired Switzerland-based luxury shoe and accessories company Bally from JAB for an undisclosed sum.

Founded in 1851, Bally offers unique designs across shoes, accessories and ready-to-wear, driven by a dedication to craftsmanship and a contemporary aesthetic. The brand operates more than 320 stores globally and has approximately 1500 employees.

Michael Reinstein, founder and chairman of Regent, described Bally as “one of the world’s great heritage luxury brands”.

“Its legacy, built on over 170 years of timeless design and unparalleled quality, is a testament to refined Swiss elegance and an unwavering commitment to craftsmanship,” Reinstein added.

Joachim Creus, managing partner, vice chairman and CEO of JAB, said the brand has undergone significant operational and creative evolution since JAB’s first investment.

“It has been a privilege to own this storied brand, and we will watch its future with great interest,” added Creus.

Financial terms of the deal were not disclosed. According to WWD, current CEO Nicolas Girotto and creative director Simone Bellotti will remain in their positions following the acquisition.