Peter Alexander, the Premier Investments-owned sleepwear brand targeting an overseas expansion is worth between $999 million and $1.59 billion, according to investment bank analysts working to place a valuation on the business ahead of a potential spin-off and ASX listing.

But the brokers say Peter Alexander could have a difficult time making inroads overseas – it plans to sell online in 35 countries from next month and open its first store in the United Kingdom next year – because it is an “unproven” brand outside of Australia and New Zealand.