The luxury group led by Luca de Meo announced on April 16 that it had formed both a joint venture with the Italian industrial group HModa and a strategic partnership with the Chinese group ICCF, owner of the flagship brand Icicle.
Kering is reshaping its business model by relying more heavily on external partners. It’s a way to grow while sharing risks…
In unveiling its turnaround plan, ReconKering, on April 16, the luxury group led by Luca de Meo announced that it had formed a joint venture with the Italian group HModa.
On the same day, it revealed in a press release that it had entered into a strategic partnership with the Chinese group ICCF and its flagship brand Icicle, “aiming to combine their complementary strengths in the luxury sector.”
Knowledge of the Chinese ecosystem
As part of this agreement, Kering will thus take aminority stake in ICCF.“Originating from ICICLE Fashion Group, founded (like the eponymous brand) in Shanghai in 1997,” this “vertically integrated fashion group,” led from Paris and Shanghai, “develops contemporary luxury brands by leveraging a solid industrial platform, a responsible approach to design and production, and a long-term creative vision,” explains Kering in a press release.
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Read more > Kering unveils its ReconKering roadmap
Featured photo: © Kering
