Warburg Pincus in discussion to acquire stake in Reiss

The founder of premium fashion retailer Reiss is said to be in discussion with private equity firm Warburg Pincus to sell a stake valued at close to 250 million pounds.

Warburg Pincus is said to be in exclusive discussion with Reiss to purchase a substantial stake and has already reportedly warded off competition from Permira, the private equity firm which owns Dr. Martens for a deal, reported Sky News.

The report comes after Reiss's founder, David Reiss, appointed investment bank Morgan Stanley, to conduct a review of his options for the company amid plans to expand its international presence. In the past, Reiss said he was keen to find a well-suited investor who could help the retailer continue its international growth.