They are going to buy out Bally by the end of the year. As reported by MFF, the transaction will be completed within the first six months of 2018. According to some Chinese sources (hk.jrj.com), two Chinese giants, Fujian Septwolves Industry and Fosun Group, are in contention for it, after the withdrawal of Japanese Itochu and a western luxury group (allegedly Hermès). The owner of Swiss brand Jab Luxury (who sold, just for the records, Jimmy Choo to Michael Kors for 1,35 billion dollars) will decide about that, as they are handling the transaction through Jab Holding. Bally’s value amounts to around 600 million euros. A limited amount, since Guo Guangchang, president of Fosun Group, who has been recently investing in fashion, openly said, while talking at CCTV, that he would also like to buy out Prada and Moncler. One of the reasons that make Bally so appealing is that they had previously planned their retail business expansion in the Chinese market, which has already warmly welcome the collections, with regard to footwear and accessories, presented by the Swiss brand.
Is Bally buyout forthcoming? Chinese Fujian Septwolves and Fosun (who dreamt of buying Prada) in contention for it
