Stephen Marks, the founder of flagging fashion chain French Connection Group Plc, is considering selling his stake in the company according to newspaper reports at the weekend.

Citing private equity sources, the The Business newspaper said the company's profit warning last week had prompted Marks to think about selling his stake.

Marks was said to have been considering a sale last year, but changed his mind after the group's share price grew.

French Connection last week predicted that its autumn profit would be disappointing, following an 18 per cent dip in UK sales over the last three months.

The company, whose infamous FCUK brand has been losing popularity, admitted its recent collections failed to live up to expectations.