L Catterton, a private equity firm, is all set to sell the Danish fashion brand Ganni in a deal that could end up fetching up to US $ 700 million.

The equity firm has, reportedly, hired investment bank Lazard to run the sale process. Interestingly, this has already drawn attention from some Chinese buyers.

Here it’s important to mention that non-binding bids are due by 25 July.

Though numbers haven’t been revealed officially, sources believe the deal could fetch Ganni somewhere between US $ 500 million and US $ 700 million.

Notably, both Lazard and L Catterton haven’t commented further on the deal.

L Catterton, which focuses on the consumer sector globally, had acquired a majority stake in Ganni back in 2017 and had played an important role in helping the fashion brand expand globally.

Founded in 2000, Ganni, a ready-to-wear fashion brand based in Copenhagen, has 27 stores across Europe and the US, and is available via 400 wholesalers worldwide.