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Trio of buyers eye up Brioni

Luxury Italian brand Brioni could be sold for up to £300m as a trio of potential buyers reportedly circle the brand.

According to the Independent on Sunday, French private equity firm Eurazeo, Italian luxury brand Zegna and French luxury group PPR have all held talks with the suit maker about making a potential offer for the business.

Eurazeo has recently been on the acquisition trail. Last month it bought a stake in premium sportswear label Moncler.

In July it was reported that PPR, the business behind brands including Gucci, Stella McCartney and Alexander McQueen, was eyeing up the menwear label after PPR was originally contacted as a potential investor in 2009 when the family owned brand launched a search for an investor three years ago.

The business was founded in 1945 and has provided suits to Daniel Craig to wear as James Bond and American president Barack Obama. It reported an operating profit of €32m (£27.5m) in 2010 and has said it is moving into casualwear.

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