Savile Row tailor Richard James is thought to be considering selling a multimillion pound stake in the business.
Richard James’s three founders, including James himself, have hired advisors and are in discussions with several UK-based investors, according to Sky News.
If completed, the sale would bring an external investor into the business for the first time and help the brand’s expansion into the US and Hong Kong.
The fundraising is being led by advisory and investment firm Ironbridge Capital Partners. Sources cited by Sky say a deal is likely to be signed early next year, though it could take longer.
Richard James was founded in 1992 and today owns three stores in London. The brand also produces a range of suits for Marks & Spencer.