French luxury and retail group PPR is reported to be considering the sale of part of its retail portfolio to raise cash to buy new brands.

The group headed by billionaire François-Henri Pinault would use the funds from its lower-margin retail businesses to pay down debt then look for international clothes and accessories brands to acquire.

Its retail arm generates 70% of group sales, but it wants focus on its clothing and accessories brands within its Gucci Group and sports brand Puma, according to the Financial Times

Businesses that could be sold include entertainment chain Fnac, furniture retailer Conforama and catalogue business Redcats.

Analysts have speculated that Ralph Lauren, Levi Strauss & Co, Abercrombie & Fitch, Tommy Hilfiger, Lacoste and catalogue business La Redoute could all be bid targets for PPR.