Reinvention and a new launch for Bally

According to Marco Franchini, chief executive of Bally, the Swiss group bought out by the Texas Pacific Group, in less than two years the company will break even and chances are it could be in the black.

The reorganization plan began the day after the takeover and it had already started to give results in the middle of last year. There was an upturn in the sales of shoes, accessories and clothing, at full prices in particular. This has increased the company's profits and it forecasts continuing along these lines in 2004.

The three Bally facilities, where shoes and purses are produced for export all over the world, will remain in operation. Billings for the fall period of 2003 increased by 37%. It was only in Japan that Bally recorded a 57% increase in sales.

The restyling of Bally is underway, and the majority of the 115 directly-controlled stores are being restructured. During the year, new stores will be opened in Sydney, Shanghai, Seoul and Taiwan, to be joined by another six 'shops-in-shops' in Japan.

In two years' time it will be the turn of Bally eyewear: the Swiss group is finalizing negotiations with one of the largest eyewear producers in the world.

(Source: Ice)