Bally is looking to turn the page. While the possibility of passing to Chinese textile group Shandong Ruyi (which in 2018 had promised 600 million USD) seems to have disappeared, the current owner, Jab Holdings, is looking for a new start. How? With investments in the retail channel. It’s also not excluded that a new creative director will arrive.
A new start for Bally
Before the pandemic, Bally’s revenue was of 318 million euro (current exchange rate), on average for the last decade. Then Covid-19 caused the number to decrease by 27% and the sale to Shandong Ruyi fell apart. That’s why JAB Holdings, investment company of the billionaire family Reimann (owner since 2008), is planning a new start. “There isn’t a deadline – says the CEO Nicolas Girotto to Business of Fashion -. The owners want to continue this wonderful story”.
Investments and coherence
In order to make to happen, JAB Holdings is investing. It’s planning the opening of three flagship stores in New York, London and Sydney. “Transforming a brand such as Bally doesn’t just mean investing money. It has to do with having a healthy and sustainable growth”, says Mr. Girotto. One of the main drivers for the strategy is that of growing from below. Meaning that the brand will pay particular attention to what the client has to say about all aspects: advertisement, products, prices. Leather sneakers and boots, inspired by alpine sports, are joining the collections. But there are many classic, elegant and casual products. “The best thing for both our brand and clients is coherence. Transforming Bally into a Gen Z brad would make no sense”, explains the CEO.
Mr. Girotto also opened the door to the idea of a new creative director, which has been missing in the brand since 2017. In fact, says BoF, Bally “doesn’t exclude the fact that one day there may be a figure (of creative director) that could give an additional creative push”.