Chinese apparel manufacturer Fujian Septwolves Industry Co (福建七匹狼實業) and conglomerate Fosun International Ltd (復星國際) are among suitors vying for the 600 million euro (US$717 million) luxury leather goods company Bally International AG, people with knowledge of the matter said.
Bally has also drawn interest from Japanese trading firm Itochu Corp as non-binding offers came in this week, said the people, who asked not to be identified as the information is private.
Founded in Schonenwerd, Switzerland, in 1851, Bally makes luxury leather shoes that range from loafers to fur-lined winter boots, as well as belts, bags, wallets and clothing. It was previously owned by US buyout firm TPG, which agreed to sell it to JAB Holding Co in 2008.
JAB, owned by the billionaire Reimann family, in April said it was reviewing options for the Swiss company to focus on its food and beverage business, which has grown into one of the largest coffee sellers through the acquisitions of Keurig Green Mountain Inc and Krispy Kreme Doughnuts Inc.
JAB in July bought Panera Bread Co in a deal that valued the bakery-cafe chain at about US$7.5 billion, including debt. Also in July, the firm agreed to sell London-based shoemaker Jimmy Choo PLC to Michael Kors Holdings Ltd for about ￡896 million (US$1.22 billion).
Septwolves makes and distributes its own menswear brands including “Wolf Totem” and “Owooo,” according to its Web site.
Founded in 1990, the company last month acquired a majority stake in the company that owns the license for the Karl Lagerfeld brand in Greater China, it said in a statement.
Meanwhile, Japanese trading house Itochu owned about 34 percent of London-based apparel maker Paul Smith Group Holdings Ltd as of March, according to its statement.
Shanghai-based Fosun group, which controls French resort operator Club Mediterranee SA, also owns Italian suit maker Raffaele Caruso SpA, women’s fashion brand St. John and Greek accessories brand Folli Follie SA.
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