The company, in which Carlyle Group bought a majority stake in April, plans on amping up its digital capabilities and brand awareness.

The deal reportedly values the menswear retailer at $1 billion. Co-founders Christiaan Ashworth and John Parker will retain a significant minority stake and remain co-CEOs.

Current owner Carlyle aimed for bids valuing the Italian sneaker brand at no less than €1.2 billion, per sources.

The British bootmaker is owned by Permira, which is targeting an exit in 2020 via sale or IPO, according to reports.