Trussardi has denied a report that it is looking to sell a stake in the company.

The Italian fashion house told WWD that it has not given a mandate to explore the interest of potential investors, denying a rumor circulated by Mergermarket about Citigroup being tapped to do so. The company is now led by chief executive officer Tomaso Trussardi and the collections are designed by his sister, creative director Gaia. Their sister Beatrice no longer has an active role in the fashion arm of the house, but remains president of the family’s art foundation Fondazione Nicola Trussardi, named after the siblings’ father, the late patriarch and entrepreneur, and spearheads the real estate sector of the group, WWD has learned.

In addition to its core leather-goods division, the Bergamo, Italy-based firm produces collections under the Trussardi, Tru Trussardi and Trussardi Jeans monikers, the latter of which was relaunched at the end of last year.

Similar to Versace, which last year sold a 20 percent stake to The Blackstone Group, sources in Milan say Trussardi could eventually consider taking on a minority shareholder that would allow it to fuel expansion.

Trussardi was a new entry last year on the fourth annual list prepared by Pambianco Strategie di Impresa of the 50 companies that could be ready for an initial public offering.