Capri Holdings Ltd ( CPRI ) shares are trading higher Monday following a report suggesting the company is exploring a sale of two of its upscale accessories and apparel brands.

What Happened: According to a Women’s Wear Daily report, Capri Holdings ( CPRI ) is working with Barclays to find buyers for its Versace and Jimmy Choo businesses.

The report indicates that the company is in the beginning stages of searching for a potential buyer. It’s not clear if the brands would be sold in a package deal or individually.

A source familiar with the matter reportedly said Capri has set up a data room with confidential information on the businesses for potential buyers. The company reportedly aims to see indications of interest from potential buyers before the holidays.

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Women’s Wear Daily reported that it’s possible a buyer could come in and make a deal for the businesses, but it’s also possible that Barclays could end up auctioning the businesses in a process that would involve multiple offers over multiple rounds.

Capri also owns the Michael Kors brand, which is by far its biggest business. The report indicates that a potential sale of Versace and Jimmy Choo could give the company the time and resources needed to implement turnaround plans at Michael Kors.

Capri shares dropped nearly 50% in October after a U.S. judge blocked the company’s planned merger with Tapestry Inc ( TPR ) , ruling that a merger between the companies would hurt competition in the U.S. handbag space. Capri and Tapestry are the largest handbag makers in the U.S.

CPRI Price Action: Capri shares were up 7.33% at $22.93 at the time of publication, according to Benzinga Pro.