Family Sells Business
The following year the Bally family sold their interest in the company. Numerous difficulties followed and the company struggled under poor management against a tide of low-cost products from developing countries flooding the global market. In 1999 Bally was sold to the American investment fund Texas Pacific Group. On 22 April 2008 it was announced that Bally International AG is to be sold to Labelux Group Inc. Today the company is headquartered in Caslano, Ticino, Switzerland.
Read more about this topic: Bally Shoe
Famous quotes containing the words family, sells and/or business:
“In former times and in less complex societies, children could find their way into the adult world by watching workers and perhaps giving them a hand; by lingering at the general store long enough to chat with, and overhear conversations of, adults...; by sharing and participating in the tasks of family and community that were necessary to survival. They were in, and of, the adult world while yet sensing themselves apart as children.”
—Dorothy H. Cohen (20th century)
“No one can write a best seller by trying to. He must write with complete sincerity; the clichés that make you laugh, the hackneyed characters, the well-worn situations, the commonplace story that excites your derision, seem neither hackneyed, well worn nor commonplace to him.... The conclusion is obvious: you cannot write anything that will convince unless you are yourself convinced. The best seller sells because he writes with his heart’s blood.”
—W. Somerset Maugham (1874–1966)
“I ignore all the doomsaying nonsense. I’m in a business where the odds of ever earning a living are a zillion to one, so I know it can be done. I know the impossible can become possible.”
—Marcia Wallace (b. 1942)