Pepe Jeans London and Hackett may be sold to a private equity group as early as next week according to reports.
Four funds are interested in acquiring the two brands, according to French newspaper Les Echos: KKR; Permira, which owns a stake in Dr Martens and Hugo Boss; CVC; and PAI.
As reported by Drapers in July, a sale of the two British brands could fetch €700m (£553.6m).
Currently Pepe Jeans and Hackett are owned by Torreal Funds (31%), Artá Capital (16.4%), L Capital (11.5%) and managers.
Pepe Jeans Group has annual earnings before interest, taxes, depreciation and amortisation of €60m (£47.46m). Hackett’s turnover increased 10% to £170m and its pre-tax profits soared 74% from £3.9m to £6.8m in the year to March 31.