The France-based luxury group has acquired a minority stake in Chinese fashion group ICCF, best known for its flagship brand Icicle, as part of a partnership between the two companies.
“This partnership brings together ICCF’s deep understanding of the Chinese luxury ecosystem and cultural landscape with the Kering long standing expertise in craftsmanship, operations, and brand development in Europe”, according to a statement released by the group.
Kering added that it intends to support the next phase of development of ICCF’s flagship brand, Icicle, including its continued international expansion and the enrichment of its product offering across new categories.
Founded in Shanghai in 1997, Icicle specialises in ready-to-wear clothing and accessories for women and men. It operates over 200 stores, including flagship locations in Beijing, Shanghai, and Paris.
This transaction is part of the House of Wonders initiative, which was recently launched by Kering. It is designed to selectively support emerging luxury brands that have strong cultural relevance in various markets, categories, and regions.
Image Credits: insideretail.asia
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