China’s Icicle Fashion Group acquires French label Carven

Shanghai-based Icicle Fashion Group has announced the acquisition of struggling French fashion label Carven. The Chinese company, which saw a retail turnover of 178 million pounds (235 million US dollars) last year, issued a statement today saying it intends to “relaunch and redeploy” the Carven brand in France, China and the international market. According to the statement, the French fashion house is set to maintain its independence in terms of brand strategy and design.

Carven has been in financial trouble since 2014, when former creative director Guillaume Henry left the label. The company filed for an equivalent of the US Chapter 11 bankruptcy with the Paris Commercial Court in May. Since then, it was courted by several companies, including Axara, Cashtex and Philippe Métivier, but none of those deals went through.

Carven is Icicle’s third investment in France. The company, which operates over 250 stores in China, opened a French a design center and a subsidiary called Icicle Paris Mode in 2013. Its first international flagship store is set to open in Paris next year.

Photo: Carven Facebook