The UK-headquartered firm is interested in turning around the poorly-performing business according to Reuters, which cited sources close to the matter.
Swiss luxury investment house Richemont, which owns Lancel, is also said to be looking for buyers for its Chloe fashion brand.
The news comes hot on the heels of Trilantic Capital Partners Europe acquiring a minority stake in Italian fashion and accessories company Betty Blue.
The Bologna-based company supplies luxury premium womenswear under Elisabetta Franchi and Betty Blue brands.
Ferrari previously served as an analyst within the investment banking division at Citigroup, while Offer joined the firm from Hellman & Friedman.
Change was launched in 2003 by Luc Vandevelde to concentrate on investments in consumer-related businesses, and has invested almost €400m to date.
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