Private equity fund Modella Capital, which owns TG Jones and Flying Tiger Copenhagen, is among the potential buyers vying for the British fashion brand Joseph, according to sources familiar with the matter. The 60-year-old company, known for its luxury womenswear, engaged advisers from PwC earlier this year to explore a sale, with an initial round of bids reportedly completed and the next stage expected in mid-November.

Joseph was founded in 1966 by Joseph Ettedgui and rose to prominence in the 1990s, favored by figures such as Kate Moss and Princess Diana. The brand has been under the ownership of Japan's Onward Kashiyama since 2005, which acquired it for £140 million.

In recent years, Joseph has undergone a strategic turnaround under the leadership of chief executive Barbara Campos, appointed in 2019. While revenues declined from £56 million to £45 million in the last reported financial year, the company managed to reduce losses from £12 million to £3.4 million and is not believed to be facing financial distress.

The brand has also taken steps to refresh its identity, hiring designer Mario Arena in 2024 to help reinvigorate its offerings. This year marked Joseph’s return to London Fashion Week after an absence of nearly a decade. Arena has highlighted a shift in consumer preferences toward more straightforward, easy-to-wear fashion in the post-pandemic market.

Neither Modella Capital, Joseph, nor PwC have commented on the ongoing sale process.