PPR has confirmed that it has postponed the sale of its Redcats home shopping business.

A spokesperson for the company today told just-style today (20 September) that "PPR has stopped the auction process for the sale of Redcats, but the decision to sell has not been cancelled".

The Redcats division, which includes the LaRedoute, Avenue and Daxon brands, recorded EUR3.4bn (US$4.6bn) in revenue and EUR165m in recurring operating income in 2010.

The disposal is part of the company's plans to focus on its luxury brands which include Gucci, Alexander McQueen and Yves Saint Laurent.

A source close to the process who declined to be named told just-style that there have been "many" potential bidders, but that current market financial conditions have made it difficult for those bidders to find financing.