Two key fashion labels could be set for new owners with luxury labels Pierre Cardin and Halston reportedly up for sale.
According to the Wall Street Journal, Pierre Cardin, who is 88, has said he wants to sell his eponymous label to ensure it outlives him.
It has been reported that Cardin wants €1bn (£897m) for the business although bankers have estimated the company could be worth around €200m (£179m). Cardin said he would want to remain as creative director at the label.
There have also been reports that Halston is looking for either a new owner or a cash injection and has appointed an investment bank to explore its options.
The brand was acquired by Harvey Weinstein and Hilco Consumer Capital in 2007 with plans to revive it. It re-launched a menswear label in autumn 10 and also launched a lower priced Halston Heritage womenswear line in spring 11.