CVC Capital Partners Plc is considering buying a stake in jeweler APM Monaco from private equity firm TPG Inc., according to people familiar with the matter. The potential transaction would see CVC acquire an interest in the Monaco-based jewelry brand known for its accessible luxury positioning and extensive retail footprint across Europe and Asia.

TPG acquired a majority stake in APM Monaco in 2018, backing the brand's international expansion and digital transformation. Under TPG's ownership, the jeweler has grown its store network and strengthened its e-commerce capabilities, appealing to younger demographics with its mix of fine and fashion jewelry.

A deal would mark CVC's continued push into consumer and luxury sectors, complementing its portfolio of brand investments. The private equity firm has previously backed companies in the beauty, fashion, and retail spaces, seeking to capitalize on shifting consumer preferences and digital adoption.

Discussions are at a preliminary stage and may not lead to a transaction, the people said. Financial terms and the size of the stake under consideration weren't disclosed. Representatives for CVC, TPG, and APM Monaco declined to comment or didn't immediately respond to requests for comment.