Italian fashion-to-media holding group HdP today said talks over the sale of its fashion units under textiles holding GFT Net and sportswear group Fila are at an "advanced stage".

HdP, which posted a first quarter net loss of $52 million, said Fila's net sales rose slightly while its operating profit climbed to 2.2 million euros from a net loss of 6.8 million in the year-ago period due to a major cost-cutting drive.

It added GFT Net's sales fell to 61.2 million euros from 115.9 million euros due to the sale of fashion houses Valentino and Revedi and a fall in income from the making of Calvin Klein garments under licence.