(Yicai) April 17 — French luxury giant Kering will become a minority investor in Icicle Carven China France Group to combine their complementary strengths across the global luxury industry.

Kering’s investment will support the next growth phase of ICCF’s flagship brand Icicle, including the continued international expansion of the brand and the enrichment of its product offering across new categories, Kering announced yesterday.

This partnership brings together ICCF’s deep understanding of the Chinese luxury ecosystem and cultural landscape and Kering’s long-standing expertise in craftsmanship, operations, and brand development in Europe, the French firm noted.

“With Kering’s expertise across high fashion, ready-to-wear, leather goods, jewelry, eyewear, and other categories, ICCF will build relevant capabilities and experience to further develop new segments and enrich its product matrix,” a source at ICCF told Yicai.

This strategic partnership is driven by House of Wonders, a new strategic initiative by Kering, designed to selectively support emerging luxury houses with strong cultural relevance across markets, categories, and geographies, the company said. 

Founded in Shanghai in 1997, Icicle is a leading Chinese high-end fashion label known for its minimalist elegance, comfort, and wearability. It prioritizes natural fabrics and sustainability, refined craftsmanship, and a contemporary sensitivity.

In 2018, Icicle acquired French fashion label Carven, and the pair merged into ICCF three years later. ICCF is Icicle’s global operating entity.

As one of the first Chinese high-end fashion brands to go global, Icicle opened a design center in Paris in 2013 and its first boutique in the city in 2019. It now runs five stores in Europe.

Since last year, Icicle has been officially listed on the Paris Fashion Week schedule, regularly presenting new collections from its Paris Atelier and building deep ties with the global fashion community and European consumers.

Despite the shrinking fashion industry, Icicle has achieved double-digit compound annual growth in recent years. Its global revenue exceeded EUR300 million (USD324 million) last year, boasting more than 200 stores worldwide.

Editors: Tang Shihua, Futura Costaglione