Swiss footwear and fashion label Bally has been acquired by Californian investment firm Regent LP. The sale was announced by the Beverly Hills-based firm and by Bally’s former owner, Jab Holding, a company that belongs to billionaire German family Reimann. The value of the transaction was not disclosed.

Regent LP’s brand portfolio includes media companies like Federal Times, and the Club Monaco, Escada and La Senza labels. “Bally is one of the world’s great heritage luxury brands,” said Michael Reinstein, founder and chairman of Regent LP. According to Jab Holding’s CEO Joachim Creus, in the last few years Bally “has undergone significant operational and creative evolution.”

The label was founded in 1851 by Carl Franz Bally and is based in Caslano, Switzerland. Bally employs some 1,400 people worldwide, and produces shoes, handbags, accessories and ready-to-wear. In 2018, Jab Holding considered selling the label to Chinese group Shandong Ruyi, but a deal was not agreed upon.