A pair of original Swiss-design Bally shoes from 1939
Bally
Luxury shoemaker Bally, which was founded in Switzerland in 1851, has again changed hands. China’s Shandong Ruyi has agreed to buy a controlling stake in the firm from Luxembourg-based JAB Holding, the companies said on Friday.
“This is an important milestone for Shandong Ruyi Group in our enterprise to become a global leader in the fashion apparel sector,” Yafu Qiu, Chairman of Shandong Ruyi GroupExternal link, said in a statement. “We look forward to supporting Bally in achieving its continued growth and enhancing its brand globally.”
Shandong Ruyi has been slowly building its network of luxury clothing and accessories labels
Bally External linkwas founded by Carl Franz Bally at Schönenwerd in canton Solothurn in 1851. The brand was sold to Werner K. Rey in 1976. A year later it was bought by the Zurich group Oerlikon-Bührle. It was later bought by the US investor Texas Pacific Group in 1999, before being taken over by JAB Holding in 2008 and is now headquartered in Milan.
Bally’s parent company, JAB Holdings has been selling off its luxury and fashion investments. It will retain an undisclosed minority stake in Bally.
Popular Stories
More
Multinational companies
Azeri fossil-fuel cash cow brings controversy to Switzerland
Is artificial intelligence an advantage or a disadvantage for workers?
What is your experience with AI at work? Have you already used it? Has it helped you work better? Or has it caused you more stress, more work or caused you to lose your job? Tell us about your experiences!
Swiss price watchdog slams excessive prices for generic medicines
This content was published on
The cheapest generic medicines available in Switzerland are more than twice as expensive as in other countries, according to a study by the Swiss price watchdog.
Nature should not figure in net zero calculations: academic study
This content was published on
The natural removal of CO2 from the atmosphere by forests or oceans should not be included in the net-zero balance of climate protection measures, argue researchers.
This content was published on
None of the 15 major Swiss retail banks is meeting international climate and biodiversity targets, according to a ranking by WWF Switzerland.
This content was published on
Nestlé's new CEO Laurent Freixe, has presented plans for the future of the world's largest food company, after his first few weeks in office.
Swiss foreign minister calls on Moscow to end Ukraine war
This content was published on
It's high time Moscow ended its war against Ukraine, Swiss foreign minister Ignazio Cassis tells the UN Security Council.
This content was published on
The only alternative to the UN Palestinian agency’s work in Gaza is to allow Israel to run services there, Philippe Lazzarini, UNRWA Commissioner-General, told reporters in Geneva on Monday.
Study reveals food culture differences between Switzerland and neighbours
This content was published on
Three-quarters of Swiss people consider eating to be a pleasurable, social activity, a new survey reveals. Healthy eating, however, plays a much less important role, it found.
No Swiss protection for Louboutin’s red-soled shoes
This content was published on
On Friday, the Federal Supreme Court in Lausanne turned down Louboutin’s demand for protection stating that the red soles are merely an aesthetic element and are thus not deserving of trademark protection. The court added that just because the brand managed to wrangle trademark status for its red soles in other countries like China, Russia…
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.