Kering Acquires Minority Stake in ICCF, Forms Strategic Partnership
Luxury group Kering has announced a strategic partnership with Chinese entity ICCF, including the acquisition of a minority stake. The collaboration will focus on ICCF's flagship brand, ICICLE.
Kering, the global luxury group, has entered into a strategic partnership with ICCF, a Chinese entity, and acquired a minority stake. The agreement aims to combine ICCF's understanding of the Chinese luxury market with Kering's expertise in brand development and operations.
The investment is intended to support the expansion of ICCF's flagship brand, ICICLE. This includes furthering the brand's international presence and broadening its product offerings into new categories. Founded in Shanghai in 1997, ICICLE is recognised for its aesthetic inspired by Eastern philosophy, utilizing natural materials and refined craftsmanship.
ICICLE operates over 200 stores and offers ready-to-wear and accessories for men and women, with flagship locations in Beijing, Shanghai, and Paris. Kering stated the partnership is part of its new "House of Wonders" initiative, which selectively supports emerging luxury brands with significant cultural relevance.
Through this initiative, Kering aims to build long-term value by engaging with brands that possess a distinct vision, authenticity, and global potential. Specific details regarding the size of Kering's stake or the financial terms of the agreement have not been disclosed.