Sky News has learnt that Onward Kashiyama, which bought Joseph in 2005 for £140m, is working with PricewaterhouseCoopers (PwC), the professional services firm, to field talks with potential buyers.
The process comes amid a revival of Joseph’s fashion credentials after its heyday during the 1990s.
The brand’s current creative director, Mario Arena, has won plaudits from critics since joining the company, with sources saying an improvement in its performance had helped spark interest in a sale.
“I want Joseph to be all-encompassing, a place you walk into and breathe the Joseph lifestyle, just as you did when it opened all those years ago,” Mr Arena told The Times earlier this year.
“I want to do glasses, shoes, handbags, menswear – all of it. I am raring to go.”
Joseph was founded by Joseph Ettedgui, a Moroccan-born entrepreneur, in 1966.
Its first branch opened on the Kings Road, Chelsea, five years later.
A majority stake was then sold at the turn of the century to a Belgian financier.
It currently trades from about a dozen locations in the UK, including concessions in Harvey Nichols and Selfridges.
Joseph could not be reached for comment, while PwC declined to comment.
