British retail giant Frasers Group and global brand operator Authentic Brands Group are believed to be in discussions to establish a potential partnership.

The deal could see Frasers become the UK and European operating partner for a number of brands in Authentic’s portfolio, including Reebok and Ted Baker.

This is according to Drapers, which said it had spoken to separate sources who confirmed the talks had taken place, yet some warned that there was no guarantee an agreement would be established.

For Reebok, one of Authentic’s more than 50 global brands, operations in Europe are currently being led by Farfetch-owned New Guards Group.

Meanwhile, Frasers had previously been among the names that was said to have shown interest in taking over Ted Baker back in May, however an update on the discussions has not yet become known.

This latest news comes on the back of reports that Ted Baker was preparing to close all of its stores in the UK after discussions surrounding a deal with a new operating partner fell through.

The company is currently in the midst of an administration process which has already resulted in widespread job cuts, store closures and market exits, including most recently from the Netherlands.

While a spokesperson for Authentic declined to comment on the negotiations with Frasers, they told Drapers that the group was "actively engaged in discussions with potential partners to ensure the continuation of the [Ted Baker's] retail distribution and ecommerce operations in the UK and Europe".