Bally for sale

Swiss fashion and accessories house Bally is said to be for sale. Its current owner, private equity firm Texas Pacific Group, is believed to be preparing its exit. The Fort Worth-based TPG acquired Bally in 1999 and has since restructured the fashion house. Last year it broke even for the first time. According to WWD, sources have said that now would therefore be a good time for TPG to exit. In recent years the house has enjoyed a marked improvement in performance. Global sales rose between 15 and 20 percent last year to €360 million and the company expects similar results for the current year. Bally has denied knowledge of a potential sale.

Sources have told WWD that Kenneth Cole is in the running to take over Bally. Like the Swiss fashion house, US-based Cole specializes in shoes and accessories and has a small offering of fashion. “It is company policy not to respond to rumours,” said a Kenneth Cole spokeswoman.