By Manuel Baigorri and Elffie Chew
(Bloomberg) — Charles & Keith Group, a Singapore-based fashion house, is exploring the sale of roughly a 20% stake, according to people with knowledge of the matter.
The footwear and accessories retailer is working with a financial adviser on the sale, the people said, asking not to be identified as the process is private. A deal could value the fashion brand at more than US$2 billion, they said.
Deliberations are ongoing and the company may decide not to proceed with a stake sale, the people said. A representative for Charles & Keith didn’t immediately respond to requests for comment.
Founded in 1996 by Charles and Keith Wong, the company operates more than 700 stores worldwide, selling fashionable footwear, bags and accessories, according to its LinkedIn page. Its apparel includes items sold under its own name as well as the Pedro brand, which it launched in 2006, its website shows.
The company’s clothing has been worn by celebrities including Hailey Bieber, Sienna Miller, Emily Ratajkowski and Xiao Wen Ju, the website shows. It recently teamed up with Spanish artist Coco Capitan for a collection including Perline Chunky Penny Loafers and a Perline Double Handle Sculptural Tote Bag featuring her designs.
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