The deadline to submit offers for a stake in the firm was Jan. 31, but is expected to be extended into the first few days of February.
While speculation swirls over the company’s ownership, Buccellati expects to close 2018 with a double-digit increase and is planning events to celebrate its 100th anniversary next year.
The investment bank Rothschild is said to have a mandate to find a minority shareholder in the Florence-based fashion house to further boost its business.
Clessidra and the Buccellati family will retain a 15 percent stake in the company.
The publicly listed Italmobiliare has secured the Italian private equity fund for roughly 20 million euros, or $22.7 million, at current exchange rate.
The private equity acquired a 67 percent stake in the jewelry brand in 2013.
The Italian private equity firm is in exclusive and binding negotiations with Italmobiliare SpA, an investment holding owned by the Pesenti family.
Bvlgari's Jean-Christophe Babin describes diversity and inclusion as an ethos embedded into the renowned brand.