Puma and VF are among the bidders for Norwegian outdoor brand Helly Hansen, The Sunday Times reported.

Altor Equity Partners confirmed to just-style in December that it was looking to offload the brand. It said that the group would be seeking more than NOK2bn for the brand.

The sale is being handled by Baird & Co in America and by ADG, a Norwegian advisory firm. Initial reports suggested that private-equity firms like Blackstone or the Carlyle Group were interested in the brand.

A spokesperson for Altor was unable to give any update on the sale process.