US fibre producer Invista is exploring what it calls "strategic alternatives" for its apparel and advanced textiles business, which could include a potential sale.

A global producer and marketer of premium fibres and fabrics, the business counts Lycra and Coolmax fibre among its brands.

Other alternatives include retaining and further investing in the business within Invista, says the company.

"A key element of our market-based management business philosophy is to continuously assess the external value of our assets against our internal value to make sure that the asset is owned by the company that values it most highly," explains Jeff Gentry, Invista chairman and CEO. "The apparel business is a strategic part of our portfolio - we are extremely pleased with the results of the business and remain confident in its continued and future success. We are simply considering all available options.

"In the event that no other company values the business more than we do, we will gladly hold the business and continue to invest for the future."

The fibre producer has retained Goldman, Sachs & Co. to assist in exploring its options.