Gucci-owner Kering to buy stake in Chinese luxury brand Icicle

PARIS – Kering, the French luxury group behind Gucci, announced on Thursday that it will acquire a minority stake in Shanghai-based Icicle Fashion Group, marking the start of a new partnership with its Chinese parent, ICCF.

Founded in 1997, Icicle is a fast-growing Chinese luxury brand that has been expanding into Western markets. With more than 200 stores globally, including in Paris, the brand is making a significant mark on the luxury fashion scene.

This move is expected to further strengthen Kering’s presence in the growing Chinese market and its portfolio of luxury brands.

-Reporting by Gianluca Lo Nostro and Tassilo Hummel/Reuters