The Investment Is Part Of Its New “House Of Wonders” Platform Targeting Emerging Luxury Brands
Kering has announced a minority investment in Chinese fashion group ICCF, the company behind the Icicle and Carven brands, marking a strategic move to strengthen its presence in the Chinese luxury market and support the next phase of the brand’s international growth.
The deal was disclosed by Chief Executive Officer Luca de Meo during Kering’s Capital Markets Day in Florence. Financial terms were not disclosed.
The investment is being made through House of Wonders, a newly established Kering initiative focused on backing emerging luxury brands with strong cultural relevance across markets and categories. The platform reflects the group’s broader strategy to expand into what it describes as “next luxury” segments, identifying growth opportunities beyond its core portfolio.
The partnership brings together Icicle’s local market expertise with Kering’s capabilities in brand development, operations, and craftsmanship. Founded in Shanghai in 1997, Icicle has built a reputation for a design approach rooted in Eastern philosophy, combining natural materials with understated, contemporary aesthetics. The brand operates more than 200 stores globally, including flagship locations in Beijing, Shanghai, and Paris.
Kering said the investment will support Icicle’s continued international expansion, as well as the development of new product categories, signaling an ambition to scale the brand beyond its current footprint.
The move also underscores Kering’s ongoing focus on China as both a consumer market and a source of emerging luxury brands. The group already owns Chinese jewelry brand Qeelin and has been increasing its exposure to the region through targeted investments and partnerships.
Through House of Wonders, Kering is positioning itself as a long-term partner to independent brands, taking a more flexible and collaborative approach to growth. The strategy aims to identify labels with distinct creative identities and global potential, while allowing them to retain their autonomy.
The Icicle investment reflects that model, combining capital support with access to Kering’s global infrastructure, as the group looks to build new pillars of growth alongside its established houses.