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.