The owners of Chinese luxury retailer Icicle are exploring a stock market listing, as the cashmere specialist looks to expand beyond its home country and capitalise on growing interest in non-western labels.
The Shanghai-founded brand, known for its minimalist look and natural textiles, is considering an initial public offering of its parent company ICCF in either Hong Kong or Paris, according to four people with knowledge of the situation. No advisers have yet been appointed, the people said.
The brand could be worth about €1bn in a sale, one investor estimated. A listing this year is unlikely because of a backlog of applications already sitting with the Chinese securities regulator, according to another person familiar with the matter.
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