Private equity owner Warburg Pincus is reportedly considered divesting its fashion retail chain Reiss.

The company is also said to have appointed investment bank Rothschild & Co, according to Sky News.

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The process of divestiture is expected to begin during the second quarter of this year.

Warburg Pincus acquired a majority stake in Reiss in 2016. David Reiss, the founder, retains a minority stake.

Since then, the company has focused on expanding in the UK and overseas, especially in North America, Asia and Australia.

Founded in 1971, the global affordable luxury apparel brand operates 69 standalone stores and produces and sells men’s and women’s clothing and accessories.

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It currently operates a total of 160 stores, concessions and franchises in 15 countries, including the UK, the US, France and Germany. The company also has an online presence.

In its strategic report, Reiss was quoted by City AM as saying: “Ress performed ahead of the market consistently through the period and sales and margin were in line with the expectations of management.”

“In addition, the continued programme of investment has improved the stockholding of the business while capital expenditure on physical sites and investments in e-commerce have improved customer engagement, leading to improved performance.”