All Saints has been approached by a major US investment bank to explore its options, including a potential flotation – as the retailer looks to expand in the US, according to reports.

The retailer is also set to open further stores in the US in the coming weeks, with new openings in Las Vegas and New York, The Independent has reported.

All Saints, which has ten US stores, is thought to be funding the expansion through both cash generation and its £50m working capital from Lloyds. Its group like-for-likes sales are up 34% this year.

All Saints saw EBITDA double to £23.6m for the year ended January 31. Turnover climbed 46% to £132.9m.