Dutch luxury department store group De Bijenkorf may be up for sale after a mystery buyer approached its Canadian owner, according to British media reports.

The Bijenkorf has been part of the Selfridges Group, which is owned by Canadian investment house Wittington Investments, since 2011.

The paper says the family owners have been approached about a deal, which could be worth up to €4.7bn. In the coming weeks, there will be an auction where a select group of interest parties can make an offer, the Guardian reported.

The Bijenkorf has seven branches in the Netherlands.