Kering Expands Influence with Stake in Chinese Luxury Brand Icicle

Gucci-owner Kering is acquiring a minority stake in Shanghai-based Icicle Fashion Group. This strategic partnership will see Kering collaborating with Icicle's parent company, ICCF. Established in 1997, Icicle is a growing luxury brand with over 200 stores globally, including a presence in Paris.

On Thursday, Kering, the French luxury conglomerate known for owning the prestigious Gucci brand, announced its acquisition of a minority stake in the Icicle Fashion Group, based in Shanghai.

This move signifies a strategic partnership with ICCF, Icicle's Chinese parent company, aimed at strengthening Kering's market presence in China.

Founded in 1997, Icicle is a burgeoning name in luxury fashion, currently operating more than 200 retail outlets worldwide, including notable locations in Paris.

(With inputs from agencies.)