Montefiore Investment is considering a sale of French fashion brand Isabel Marant, according to people familiar with the matter.

The Paris-based fund is working with JPMorgan Chase & Co. to study options to exit its investment in Isabel Marant, the people said, asking not to be identified discussing confidential information. A deal could value the ready-to-wear brand at as much as €1 billion ($1.1 billion), the people said.

Representatives for JPMorgan and Montefiore declined to comment, while a representative for Isabel Marant didn’t immediately respond to a request for comment.

Isabel Marant founded her eponymous label, known for its bohemian style and embrace of ethnic prints such as Indonesian batik, in the 1990s. After studying at Studio Bercot, she opened her first store in the Bastille area of Paris. The brand initially focused on womenswear and started a menswear line in 2017.

Montefiore bought a 51 percent stake in the company 2016, when Isabel Marant had annual sales of around €150 million euros, 80 percent of which were generated outside of France, according to a statement at the time of the transaction.

A regular at Paris Fashion Week, Isabel Marant products are considered affordable luxury, with Nevim jackets costing $1,280 and Bekett sneakers priced at $590 on its US website.

Learn more:

How Isabel Marant Is Getting Through the Pandemic

Despite challenges — and challengers — the brand that launched French contemporary has remained profitable during the Covid-19 crisis, and is adding new lines and stores to drive growth.