By  on January 15, 2010

FLORENCE — C.P. Company is in play and entertaining offers.

Carlo Rivetti, owner and chief executive officer of Sportswear Company, the parent of men’s sportswear labels C.P. Company and Stone Island, is in talks with potential suitors, WWD has learned. The identity of potential suitors could not immediately be learned.

“There are companies in the industry interested in buying C.P. Company, but nothing has been decided,” a C.P. Company spokeswoman confirmed. “Carlo Rivetti is currently in talks with third parties and considering offers.”

Founded in 1975 by Italian designer Massimo Osti, C.P. Company built a cult following with its military-inspired silhouettes and customized textile treatments. In April, Rivetti appointed former John Galliano men’s wear design chief Wallace Faulds as its new designer, succeeding Alessandro Pungetti.

Sportswear Company generated revenues of 62 million euros, or $91.2 million at average exchange, in 2008. Men’s wear accounts for 85 percent of C.P. Company sales. The label introduced women’s wear in 1994. By region, Italy is the label’s largest market, followed by the U.K., Japan, France, Germany, Russia and the U.S.

C.P. Company is sold alongside Stone Island in about half-a-dozen company-owned stores in Italy, South Korea and the U.K. The label also counts corners in key department stores, including Barneys New York, Selfridges, Isetan, Hankyu and Printemps.

C.P. Company will present its fall collection on Saturday during Milan Fashion Week.

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