French luxury group Kering (formerly PPR) has refused to be drawn on reports that it is looking to invest at least EUR300m (US$410.2m) into La Redoute to try to find a buyer for the mail order business.

The company has not yet received any offers despite three parties, including investment firm HIG Capital, requesting further information about La Redoute, according to a Reuters report.

Kering is ready to inject EUR300m into the business and hopes a buyer will also make an investment to finance a restructure of Redcats La Redoute, the report added.

However, a spokesperson for Kering told just-style today (22 October): "We don't make any comment re the disposal process of La Redoute."

The news comes after the group reportedly shortlisted six candidates in July to buy La Redoute. Kering, which also owns the Gucci and Yves Saint Laurent brands, has been slowly shedding some the brands from the Redcats mail order unit after it failed to find a buyer for the whole business.