Private equity firm Cinven is reportedly mulling the sale of British footwear brand Kurt Geiger for a suggested price of GBP400 million (US$486 million).

The company is working with advisers at Bank of America on a prospective auction, according to Sky News.

The sale is believed to begin in the coming months, attracting luxury goods groups and other buyout firms.

Founded in 1963, Kurt Geiger has been owned by Civen since 2015.

The London-based label has a diversified portfolio of attractive own and third party brands including Kurt Geiger London, KG, Miss KG and Carvela.

It operates more than 80 stores globally and 240 concessions within some of the world’s most prestigious department stores, including Harrods and Selfridges.

The brand announced in June it had signed a $181 million funding agreement to fuel its international expansion and refinance existing borrowings.