Italian fashion house Gianni Versace this week received formal offers for the minority stake it is selling, with a number of international funds submitting bids, a person familiar with the matter said.

The candidates bidding separately for a stake of around 20% in Versace include Blackstone Group, UK-based Permira Advisers Holdings, Italian private-equity fund Clessidra, Italian fund FSI, Qatar Holding and French buyout firm Ardian, previously known as AXA.