British lifestyle brand Joules is in advanced talks with industry players vying to acquire sports heritage label Rampant Sporting.
As revealed on Drapersonline.com last week, Joules is looking to offload the 80% stake in the brand it acquired in 2010.
Although neither business was willing to name those involved in discussions, Rampant Sporting founder and managing director Richard Hurtley said he was keen to align the business with one that had similar values.
“We’re at a quite developed stage with conversations with some of the parties,” he said. “I want investors that are going to give us long-term support and strategy and someone I can work with personally to develop the brand.
“We are looking for someone with the skill and the knowledge to grow and have someone provide us with more young fashion expertise.”
Joules chief executive Tom Joule added: “We’ve got a lot to concentrate on and we’d be spreading ourselves too thinly if we continued running the two brands.”
Rampant Sporting has about 60 stockists and between 15 and 20 full-time employees.