Textile Giant Continues Shopping Spree, Picks Up Bally
Chinese textile manufacturer Shandong Ruyi Investment Holding, the owner of U.K.-based brands Aquascutum and Gieves & Hawkes, has acquired a majority stake in Swiss luxury fashion firm Bally International AG.
Bally’s owner, JAB Holding Co., will “retain a minority interest in the company” after the deal is completed, and Bally will retain its head office and main factory in Caslano, Switzerland, according to a JAB statement.
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