Press reports say that LVMH, the luxury brand company, and Texas Pacific, the American private equity firm that owns shoe company Bally, are rivals in the battle for Burberry.It has been reported that both companies have approached GUS, the home-shopping giant that owns the revitalised British fashion brand.Another option under consideration is a flotation of Burberry. Tod's, the Italian shoemaker and leather goods company, became the third pure luxury goods group to seek a listing in the past six years when it came to the market this year.