Australian surfwear brand Billabong could be set to be bought after attracting interest from sportswear giant Nike, French luxury group PPR and private equity backer TPG Capital.
According to reports there is mounting speculation about the future of the brand with rumours that a number of different investors are eyeing the brand. Among the reported admirers is Nike, PPR and a number of private equity firms, including TPG Capital.
Billabong issued a profit warning late week for the year ending June 30. The brand said earnings for the year would be $130.5m (£84.0m) to $135.5m (£87.2m) compared to a previous forecast of $158m (£101.2m).
In February the brand rejected a bid from TPG Capital, telling the private equity company that the AUD $765m (£518m) bid did not represent the value of the company. Earlier this year there was also speculation that private equity firms Blackstone and KKR had entered the race to buy the Australian surfwear brand.