Private-equity firms TPG and Leonard Green are in talks to sell clothing retailer J. Crew Group to Japan's Fast Retailing for up to $5B, the WSJ reports.
Reuters writes that South Korean fashion conglomerate E.Land Group, as well as Fast Retailing, are exploring a deal for J. Crew.
Any deal would forestall an IPO for the U.S. company, which earned EBITDA of $371M in FY 2014 vs $360M a year earlier, while revenues rose 9% to over $2.4B.
TPG and Leonard Green took J. Crew private for $2.8B in 2011.