Online retailer The Hut Group, which sells clothing brands including Barbour, Superdry and John Smedley, has raised in the region of $200m (£138m) through private funding.
The business has attracted investment from US asset manager BlackRock, Belgian investment company Sofina, and an unnamed Chinese fund, according to the Financial Times.
The firm is expected to use the funds for acquisitions to expand its presence in health and beauty, where around 90% of its sales comes from.
All three new investors are said to be willing to support transactions in the “hundreds of millions of dollars”, the paper’s unnamed sources added.
Existing shareholders include the former bosses of both Marks & Spencer and Tesco, Stuart Rose and Terry Leahy, as well as Angus Monro, who previously ran discount chain Matalan.