Kenneth Cole, designer and founder of Kenneth Cole Productions (KCP), is in talks to sell the shoe clothing company to Iconix Brand Group, a licensing company run by his brother, Neil.

It is not clear when the takeover will happen, if at all, Bloomberg News reported without naming its sources.

Iconix owns brands including Candie's and London Fog, licensing them to retailers and manufacturers.

Kenneth Cole Productions operates 110 stores and owns the Kenneth Cole brand. The company has posted consecutive annual losses as U.S. consumers reduce their spending.

In May, Kenneth Cole said he would explore "all strategic avenues" to boost shareholder value.