According to a story by The Financial Times, which cites sources familiar with the sales process, luxury competition Mytheresa has allegedly taken notice of Richemont’s renewed attempts to offload Yoox Net-A-Porter (YNAP). Bain Capital and Permira, two private equity groups, are reportedly considering takeover approaches for the failing e-commerce behemoth, according to the article.

However, YNAP’s persistent losses are making it difficult for prospective purchasers to reach an agreement on a purchase price. For YNAP, the day of profitability is still a long way off, which makes valuing the company difficult and puts off potential investors.

Although there are a lot of unknowns, there are a few interested parties that are prepared to cautiously investigate the prospect. One potential buyer dubbed it a “turnaround-type case,” a term that suggests the difficulty of reviving the company.

While Mytheresa did not say whether it will make an offer for YNAP, it did say that it is always looking for ways to grow, which might include acquiring other companies.

Richemont has been trying to sell YNAP for a while now. Problems encountered by Farfetch caused a prior agreement to acquire roughly 50% of the company to fall through. Richemont has invested heavily in Net-A-Porter (2010) and Yoox (2015), although neither acquisition has produced the expected turnaround.

Profitability for YNAP is still a long way off in light of the difficult e-commerce environment; thus, a successful turnaround might necessitate a significant investment of time and energy.