MILAN, May 7 (Reuters) - Luxembourg-based investment

firm L-GAM is exploring options to divest its stake in premium

outerwear maker Woolrich International, two sources close to the

matter told Reuters.

L-GAM, which was established in 2013 in partnership with the

princely family of Liechtenstein, has picked U.S. investment

bank Houlihan Lokey ( HLI ) as financial adviser for a possible sale,

one of the sources said.

The private equity firm bought a majority stake in Woolrich

in 2019 with the aim of expanding internationally the brand

famous for its parka coats with fur-hemmed hoods.

Established in Pennsylvania in 1830, Woolrich is one of the

United States's oldest outdoor clothing brands, but its main

market is currently Europe.

(Reporting by Elisa Anzolin, editing by Gianluca Semeraro and

Valentina Za)