Investment firm Elliott Advisors is reportedly one of the parties interested in acquiring upmarket British brand Reiss.
It has been claimed that at least three parties are said to be participating in the auction, which is being monitored by bankers at Raymond James, but it is unclear whether Elliott would submit a formal bid.
This information comes in response to a report published earlier this month that British high street behemoth Next may sell Reiss.
According to a report that cited City sources, Next and another Reiss stakeholder Warburg Pincus are in discussions with banks on a deal that could value the label at more than 500 million pounds.
However, sources warn that the brand sale might not actually happen. Senior retail executives made the suggestion that the procedure might be used to determine a market price and then buy out Warburg Pincus’s remaining stake in the company.
Following the purchase of a 25 percent investment in Reiss back in March 2021, Next increased its stake to 51 percent and acquired majority ownership of the company last summer.
Through its Next’s Total Platform, which offers storage and distribution services for retail, franchise, wholesale, and concession businesses, Reiss’ websites and online operations were transferred to Next as part of the agreement.
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