Kering Invests in China, Acquires Stake in ICICLE Brand
Kering and ICCF have announced a strategic partnership to combine their complementary strengths in the luxury sector. As part of this agreement, Kering will acquire a minority stake in ICCF.
The partnership brings together ICCF's deep understanding of the luxury ecosystem and the Chinese cultural landscape with Kering's longstanding expertise in craftsmanship, operations, and brand development in Europe. Kering's investment will support the new development phase of ICCF's flagship brand, ICICLE, including its continued international expansion and the enhancement of its product offerings in new categories.
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Founded in Shanghai in 1997, ICICLE is a fashion brand known for its aesthetic rooted in Eastern culture, combining natural materials, refined craftsmanship, and a contemporary, understated sensibility. The brand specializes in ready-to-wear and accessories for women and men and operates over 200 stores, including iconic locations in Beijing, Shanghai, and Paris.
Strategic Partnership within House of Wonders
This strategic partnership is part of House of Wonders, a key initiative recently launched by Kering, aimed at selectively supporting emerging luxury houses with significant cultural relevance across all markets, categories, and geographical areas. Through House of Wonders, Kering aims to create long-term value through a rigorous and partnership-based approach, committing alongside brands driven by a distinctive vision, deep authenticity, and potential for global resonance.
À mesure que Kering progresse dans l'exercice 2026, son objectif demeure de renouer avec la croissance et d'améliorer sa profitabilité
Risks mentioned
Recul du chiffre d'affaires de Gucci de 5 % en comparable au premier semestre
Charges opérationnelles non courantes de 223 millions d'euros (cessions, dépréciations, restructurations)
Résultat net part du Groupe en baisse de 60 % à 189 millions d'euros
Opportunities identified
Endettement net réduit de 4,7 milliards d'euros grâce à la cession de Kering Beauté
Contrat de licence beauté Gucci-L'Oréal exclusif sur 50 ans à compter de mi-2027
Kering Jewelry +20 % en comparable, marge courante en hausse de 2,7 points
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
