The private equity backer of Scotch & Soda is said to be exploring potential sale options after more than a decade of ownership over the Dutch fashion brand.
Reports have stated that Scotch & Soda has appointed advisers to oversee an auction after it proceeded with discussions about refinancing the business.
According to Sky News, Teneo has been selected by the retailer’s owner Sun European Partners to run the process, while Rothschild was said to be advising Scotch & Soda on its refinancing plans.
Sun, which initially acquired the business alongside Kellwood in 2011 when it first became an investor, is expected to sell the entirety of its controlling stake in the retailer as part of the process.
While a Sun European spokesperson declined to comment on the matter, the media outlet noted that though the brand’s valuation was currently unclear, it is thought to have been on track to make over 20 million euros in revenue this year.
Scotch & Soda operates a handful of standalone stores in the UK, and last April unveiled plans of a global expansion, with the ambition to open 20 international stores.