Overview
- CEO Luca de Meo announced the stake at Kering’s Capital Markets Day in Florence.
- The deal uses House of Wonders, a new unit that backs culturally relevant emerging luxury houses.
- Kering said the funds will support Icicle’s global expansion and new product categories.
- The companies did not disclose the size of the stake, the price, or other terms.
- Icicle, founded in 1997 in Shanghai, runs more than 200 stores with flagships in Beijing, Shanghai, and Paris.