OPI has made a name for itself by naming its premium nail enamel things like Kiss on the Chic, I’m Not Really a Waitress and You’re a Pisa Work. But now the company is in the news not for its nail color, but for its rumored sale.

According to sources, privately-held OPI is on the auction block by investment bank Lazard. In fact, rumors persist that first round bids went out last week. But company founder George Schaeffer recently told Women’s Wear Daily that his company is not for sale.

Still industry observers have noted in the past that Schaeffer has an agreement with his ex-wife to run the company for a couple of more years and then sell it. Currently, Schaeffer’s right-hand man is a woman, executive vice president and artistic director Suzi Weiss-Fischmann, who also happens to be his ex-sister-in-law.

According to sources, multinational beauty companies have shown an interest in OPI as well as private equity firms.