PARIS - French luxury group PPR is in exclusive talks to sell its Cyrillus and Vert Baudet children's apparel brands to investment fund Alpha, online newspaper Wansquare reported.

PPR is going ahead with individual asset sales from its Redcats mail order division after failing to find a buyer for the whole business, according to the website.

Cyrillus and Vert Baudet, with 350 million euros ($463 million) in combined sales, may be sold in the first quarter, PPR has previously indicated. The company declined to comment on the Wansquare report.

Reporting by Pascale Denis. Editing by Steve Orlofsky.