Kering acquires minority stake in Chinese brand Icicle
French luxury group Kering has partnered with ICCF to acquire a minority stake in Shanghai-based Icicle. The brand operates over 200 stores including in Paris.
The French luxury conglomerate AB SA has announced its intention to acquire a minority stake in the Shanghai-based fashion group Icicle. This strategic investment is part of a new partnership with the brand's Chinese parent company, ICCF, as the group seeks to expand its influence in China.
Based in France, the owner of Gucci confirmed the deal on Thursday, noting that Icicle has shown rapid growth since its inception in 1997. The brand has increasingly focused on international markets, establishing a significant presence in major fashion capitals.
"Icicle, a fast growing Chinese luxury brand founded in 1997 that started expanding into the West, operates more than 200 stores, including in Paris, Kering said in a statement."
The brand currently operates a network of over 200 retail locations globally. This partnership marks a significant step for the French luxury group in aligning with successful domestic players in the Asian market.
