Chinese apparel manufacturer Fujian Septwolves Industry Co. and conglomerate Fosun International Ltd. and are among suitors vying for the 600 million euros ($717 million) luxury leather goods company Bally International AG, people with knowledge of the matter said.
Founded in 1990, Septwolves makes and distributes its own menswear brands including “Wolf Totem” and “Owooo,” according to its website. The company last month acquired 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.
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 U.S. buyout firm TPG, which agreed to sell the firm to JAB in 2008.