Uniqlo’s Japanese owner Fast Retailing is eyeing a bid to buy kitsch homewares brand Cath Kidston, but may face some competition.
Fast Retailing is understood to be in talks about acquiring the business, which is majority owned by TA Associates.
L Capital, the private equity firm sponsored by luxury goods group LVMH is also understood to be discussing a potential bid for the business.
The bids come after it was reported in December that Cath Kidston had hired investment bank UBS to assess its options, according to the Telegraph.
The paper said that a spokesman for Cath Kidston declined to comment.
Cath Kidston, which has 61 UK stores and 75 overseas, has been valued at £250m.
The retailer was set up by its founder Cath Kidston in 1993, who holds a 23% stake in the business. TA Associates bought into the company in 2010 and holds a 65% share. Management hold the remaining balance.
Fast Retailing is Asia’s largest fashion retailer. It has been on the lookout for acquisitions as earlier this year it was understood to be interested in buying US fashion retailer J Crew at but plans were shelved.