The Qatari royal family could be buying the Spanish brand Pepe Jeans London, according to news agency Reuters, and official offers might be available within three weeks.

The Mayhoola for Investments SPC, an investment entity close to Sheikha Mozah, the second wife of the former emir, is the financial vehicle that the Qatari royal family is involved with for placing its offer. In 2012 Mayhoola had purchased the Italian designer house Valentino from Permira for about €700 million.

Pepe's advisor Morgan Stanley is said to have received indicative offers in October 2014 from financial investors including Permira, KKR, PAI, and Cinven and the highest bid came in at €730 million, though Mayhoola seems ready to offer €900 million for buying the company, according to the press agency.

Mayhoola is presently building up a portfolio of high-end brands in Europe. At the beginning of 2014 they also bought the majority of Forall Confezioni, which produces the Italian luxury menswear brand Pal Zileri and holds licenses for Moschino and Cerruti 1881.

Pepe Jeans was contacted for comment but has not yet replied.