The offers to buy were supposed to come in mid-September. And so they did, according to Bloomberg. After the announcement made by Jab Holding Co’s owners (Reimann family, and ex owners of Jimmy Choo), regarding their intent to sell Bally (Swiss shoes), it looks as if the latter will be bought by someone in Asia. Bloomberg says that the two main buyers are Chinese. On one side Fujian Septwolves Industry (specialized in clothing), and on the other Fosun International (Investments fund). Yet, it could be that a third party from Japan is sliding in the race that so far was 1 on 1: Itochu Corporation. The value of the operation is around 600 million Euros. Fosun International had also participated in the race to buy Jimmy Choo, but was unable to beat the Michael Kors group (leather goods).
Two Chinese on the short list for Bally, and one Japanese coming up on the horizon: Is the acquisition next?
