Preppy fashion chain Jack Wills is gearing up for a stake sale or float next year that could value the retailer at up to £500m.

According to the Sunday Times, Jack Wills is in talks to appoint Goldman Sachs to advise it on its options. Sources close to the retailer told Retail Week that at this point a sale of a stake is more likely than a float.

Jack Wills founders, Peter Williams and Rob Shaw, own about 70% of the business between them. Private equity firm Inflexion holds most of the remaining shares in the retailer, which also owns Aubin & Wills.

Any deal is likely to be done early next year.

Jack Wills was founded in 1999 and now has almost 50 stores in the UK and Ireland and has also launched in the US.