MILAN — Italian fast-fashion brand Liu Jo on Friday denied a report that the company is on the block.

“This speculation has been circulating for so long, and the fact that the owners have asked for a formal evaluation of the company doesn’t mean that they want to sell it or go public,” a Liu Jo spokeswoman said.

According to a Reuters article on Friday, the women’s wear label’s founders, brothers Vannis and Marco Marchi, are working on possibly either selling a company stake or an initial public offering.

 Reuters said Liu Jo could be valued up to 500 million euros, or $573 at current exchange.

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