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Alteri Investors, former owner of Missguided, is reportedly among a number of parties in discussions to buy Kurt Geiger, according to Sky News.
City sources told Sky that the talks were at an early stage and were not being held on an exclusive basis.
Several other parties are also considering bids for Kurt Geiger, which has been owned by Cinven, the private equity firm, since 2015.
Last October, Cinven appointed Bank of America to oversee an auction of the retailer which is expected to fetch around £400m.
However, it is unclear what valuation a deal under discussion with Alteri would command.
Luxury goods groups and other buyout firms are understood to have been examining offers for Kurt Geiger in recent months.
Alteri has owned a number of retailers in Europe since it was established, and is the current owner of the Bensons for Beds chain.
It specialises in distressed or turnaround situations, and has been linked with chains including BHS and Poundworld.
