Two apparel makers are considering a merger.

VF Corp., which makes Lee Jeans and Vanity Fair intimate apparel, said it is negotiating a possible purchase of Blue Bell Holding, the privately held maker of Wrangler jeans and Jantzen swimwear. Although VF said terms have not been finalized, it indicated that talks have progressed substantially. VF had sales in the most recent fiscal year of $1.48 billion; Blue Bell’s sales were estimated at $1.2 billion.