A Chinese company, Shandong Ruyi, is the leading contender for the acquisition of Bally International, according to Bloomberg. The other three candidates are two other Chinese firms and the Itochu group from Japan. JAB Holding, which already sold Jimmy Choo to Michael Kors last summer, has put a price tag of $700 million for the sale of Bally. Shandong recently acquired the Lycra brand and other assets of Invista's Apparel & Advanced Textiles division. It previously bought SMCP, the French owner of the Sandro, Maje and Claudie Pierlot brands, as well as Britain's Aquascutum.

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