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J Brand mulls over sale, IPO

Premium denim label J Brand is understood to be considering a sale or flotation after appointing Morgan Stanley to help it explore strategic options.

The LA-based company has sent out pitch books over the past two to three weeks and first round bids are expected soon, according to Reuters.

It is thought that a sale would see the brand command a price of up to 11 times earnings because it is considered to be a fast-growing lifestyle brand and sales of premium denim has held up well despite the gloomy retail environment.

Star Avenue Capital, a partnership between Irving Place Capital and sports agency Creative Artists Agency, is currently the majority shareholder. All parties declined to comment.

Potential bidders could include Hong Kong-based multinational Li & Fung, Jones Group, which owns brands such as Rachel Roy, and VF Corp, which owns 7 For All Mankind.

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