Cressida in exclusive talks with Harmont & Blaine

Italian private equity fund Clessidra is reported to be in exclusive talks to buy a stake in

fashion boutique operator Harmont & Blaine. This injection of capital will help the retailer expand abroad.

"We have found a fund we think can help support our growth plan," Chief Executive Domenico Menniti said in a statement issued earlier this week and clearly referring to Cressida. The latter would take a minority stake in the maker of casual clothing branded with a basset hound via a reserved capital increase, Harmont & Blaine said.

Harmont & Blaine hopes the entry of a new partner would help it increase revenue in the next three years and raise the proportion of sales it makes internationally.

As per Menniti´s estimates, the company he directs is expected to deliver an increased revenue to 90 million euros in 2014, from 61 million in 2012, before the impact of any outside investment. Harmont & Blaine is said to be planning to list shares publicly in the next four years.