FLORENCE, Italy — Permira Advisers LLP has approached Roberto Cavalli SpA about a possible acquisition of a stake in the Italian fashion house, two people familiar with the matter said.

The private-equity firm, which had dropped out of the process earlier this year, could reach a deal if both sides are able to agree on a price and final details, said one of the people, who asked not to be identified because talks are private. There are no offers from other parties at the moment, both people said, and no guarantee that a deal will be reached with Permira.

The fashion and luxury-goods industry is consolidating as large groups such as LVMH Moet Hennessy Louis Vuitton SA seek new sources of revenue and small companies turn to investors to help fund growth. Gianni Versace SpA in February agreed to sell a 20 percent stake to Blackstone Group LP for 210 million euros, while cashmere clothier Loro Piana SpA last year sold 80 percent to LVMH for 2 billion euros.

Cavalli, based in Florence, Italy, reported earnings before interest, taxes, depreciation and amortization of 22.4 million euros ($30 million) in 2013 on revenue of 201 million euros. Founder and designer Roberto Cavalli, 73, has built the namesake brand known for his exotic prints.

Separately, Permira is in talks with advisers about a potential sale of its remaining stake in German fashion house Hugo Boss AG seven years after taking control, Bloomberg News reported yesterday, citing people familiar with the matter. That stake is worth about 4.2 billion euros.

By: Kiel Porter; Aaron Kirchfeld; Editor: Celeste Perri