MILAN, June 21 (Reuters) - U.S. private equity firm

Carlyle Group ( CG ) is pushing ahead with the sale of Italian fashion

brand Twinset, asking potential bidders to submit non-binding

offers, two sources close to the matter said on Friday.

Carlyle, which picked Rothschild as financial adviser

earlier this year, is aiming for a valuation of around 300-350

million euros, one of the sources said.

Teasers were recently sent out to potential investors, a

second source added.

In January newspaper Il Sole 24 Ore reported that the brand

was exploring a sale and that it could attract interest from

Asian investment groups.

Carlyle bought 72% of Twinset in 2012 and raised its stake

to 90% in 2015. In 2017 it gained full control of the brand by

buying the remaining 10% stake from founder Simona Barbieri.

In 2020 Carlyle tried to sell the company, but the deal was

put on hold due to the pandemic.

The brand, which is focused on womenswear with dresses

selling for 130 euros upward, is struggling to return to

pre-COVID revenue and profit levels.

Twinset posted a 2023 core profit of 34 million euros on

revenue of just over 200 million, Il Sole 24 Ore reported.

Rothschild declined to comment. Carlyle did not reply to a

request for comment.