Paul Costelloe's fashion label and stores put up for auction

The fashion house responsible for kitting out the wives of this year's European Ryder Cup team has been put up for sale, it was confirmed yesterday.

Paul Costelloe, the label set up by the Irish designer and owned by clothing firm Signature Group, has hired Cavendish Corporate Finance to auction the business.

The designer is behind the outfits sported at the weekend by the wives, dubbed the Wags - wives and girlfriends - of Europe's victorious golfing stars at the Ryder Cup in the K Club in Co Kildare.

If a sale was rubber-stamped it would include the label as well as stores in Chester, Wilmslow, Horsham, Marlow, Amersham and Tunbridge Wells, England.

The clothes are also sold in House of Fraser and John Lewis department stores in Britain, as well as Brown Thomas.

Cavendish yesterday confirmed the label had been put up for sale and that it was already in discussions with a number of interested parties.

A spokesman refused to comment on any specific companies which had come forward, although it is thought approaches have come from fashion groups rather than financial bidders.

Dublin-born Mr Costelloe, who has in the past designed uniforms for British Airways and Aer Lingus staff, would also transfer to the new owner.

Mr Costelloe has been involved with the fashion industry since the late 1960s and learned his trade in Paris where he was design assistant to Jacques Esterel.

He designed clothes for Marks & Spencer and worked in New York and Milan before moving back to Ireland in 1969 to set up his own label.

It was bought by Silk Industries in 1997 and then sold to London-based Signature in 2000.

Even if Signature off-loaded Mr Costelloe, it would be still be left with a number of brands including Dannimac, Four Seasons and Cloud Nine.