US designer Tommy Hilfiger, famous for its urban casuals, has emerged as a potential buyer for M&S's upmarket men's apparel chain Brooks Brothers, the Financial Times reported.

The exact details of Tommy Hilfiger's bid were unavailable, although it was reported that the group's co-chairmen, Silas Chou and Lawrence Stroll, could be acting as private investors.

Marks and Spencer said it was on track to sell Brooks Brothers in October as planned. It has received more than a dozen initial bids for Brooks and is now down to a shortlist of eight trade and financial buyers.

Other interested parties are understood to include Texas Pacific Group, May Department Stores and Men's Wearhouse.

The offers are believed to value the retailer at about half the $750m ( £520m) M&S paid for it in 1988.

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