Exclusive: BCBG exploring sale, may fetch $1 billion - sources

NEW YORK (Reuters) - Fashion house BCBG Max Azria Group Inc, whose clothing has been worn by celebrities such as Beyonce and Angelina Jolie, is exploring a potential sale that could fetch around $1 billion, two people familiar with the matter said on Wednesday.

The company, which owns the BCBGeneration, Max Azria and Herve Leger lines, is being advised by Blackstone Group on the sale process, said the people, who declined to be named because the talks are private.

The Los Angeles-based clothing company, founded and run by fashion designer Max Azria, was not immediately available to comment. Blackstone declined to comment.

BCBG could attract interest from other fashion companies or private equity firms, the people said.

Azria is a French fashion designer of Tunisian descent. He launched the brand in 1989, naming it for the French phrase 'bon chic, bon genre,' which means 'good style, good attitude'.

(Reporting By Olivia Oran and Martinne Geller in New York, Editing by Soyoung Kim)