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Richard James Tailor-Made For New Investors

Richard James, one of the most prominent names in Savile Row tailoring, is in talks about a partial sale that would bring an external investor into the business for the first time.

Sky News understands that advisors to Richard James's trio of founders are in discussions with several prospective investors about the sale of a multimillion pound stake in the company.

The negotiations, which are understood to be focused on UK-based investors, are aimed at facilitating the brand's expansion into the US and Hong Kong.

Established in 1992 by its eponymous co-founder and two colleagues, Richard James is one of the best-known businesses trading on Savile Row, the historic heart of London's bespoke tailoring industry.

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Its well-known customers include Lord Rose, the former chairman and chief executive of Marks & Spencer (Other OTC: MAKSF - news) , who was frequently asked during M&S news conferences whether he was wearing suits made by his employer or those of Richard James's creation.

The fundraising is being led by Ironbridge Capital Partners, an advisory and investment firm, with the three Richard James founders expected to sell part of their shareholdings.

Sources said that a deal was likely to be signed early next year, although the process could take longer.

Richard James owns three stores in London and what it describes as "an international bespoke business that caters to the world’s leading Royals, performers and business titans".

It (Other OTC: ITGL - news) also has a partnership with M&S which involves men's suits designed by Richard James being sold at lower prices than the majority of stock in its own stores.

The talks about a sale come amid renewed international interest in Savile Row-originated brands.

The former England footballer David Beckham signed a deal last month with Kent and Curwen, which launched in London's tailoring district in the 1920s and which is now owned by Trinity (HKSE: 0891-OL.HK - news) , a Hong Kong-based group.