Online fashion retailer Boohoo has hired private equity and advisory firm Zeus Capital as it mulls a sale of the business, it is understood.

The retailer has experienced strong growth since it was founded seven years ago, by co-chief executives Mahmud Kamani and Carole Kane.

It has hired Zeus to explore its options, including a possible sale, according to The Independent.

It is understood that Zeus’s advisory arm has already sounded out potential investors with the option of buying a minority stake in the business.

Boohoo grew its pre-tax profits by 79% to £248,790 over the year to 29 February 2012. According to its latest accounts, sales were up to £29m. It is thought to have grown its bottom line for the financial year ending in 2013.

Sources have indicated that Zeus Capital’s private equity arm is also an investor in Boohoo but this could not be verified. Both companies declined to comment