Sycamore Partners, the owner of Stuart Weitzman Holdings, has declined to comment on reports it has been working on a deal for a sale of the company to footwear business Brown Shoe Company.

A sale of the company could fetch close to US$1bn, people familiar with the matter told Reuters this week.

Sycamore Partners has been working with Goldman Sachs Group and Citigroup Inc on the sale, the publication reported in August.

Brown Shoe is said to be competing against other potential suitors, that include private equity firms and financial investors, the sources told Reuters. An outcome in the auction for Stuart Weitzman is expected this month.

According to The Financial Times, other potential suitors for the company include luxury accessories maker Coach Inc.

Sycamore Partners declined to comment on the reports, while Brown Shoe did not return a request for comment.