Carven to be acquired by ICICLE for EUR 4.2m (translated)
13 OCT 2018
ICICLE (Zhi He Shi Shang), a Chinese women's wear designer and retailer, has acquired Carven, a French privately owned fashion house, according to a newswire report which did not disclose the deal value.
The Reuters report cited ICICLE as saying that the brand will be relaunched after the acquisition.
Chinese-language Ladymax.cn quoted a source familiar with the deal as saying that the ICICLE bought the target for EUR 4.2m and will inject another EUR 8m to revive the brand.
It was reported that Carven had filed for insolvency proceedings and for a safeguard procedure in order to look for a buyer.