Cool turn for Carven as Icicle takes over storied brand

1 min

Paris (AFP)

China's Icicle, a fashion firm that focuses on using natural fibres, was selected Friday to take fashion label Carven out of bankruptcy, lawyers for the storied French firm told AFP.

Carven was founded in 1945 by Marie-Louise Carven, who was a driving force in taking France's postwar fashion international. But after passing though several owners the house abandoned haute couture to focus on ready-to-wear, then struggled and sought bankruptcy protection in May.

Carven's lawyer Patrick Atlan said that Icicle presented the best offer that will see 72 employees, nearly the entire staff, keep their jobs.

One of seven offers, Icicle bid a little more than 6.5 million euros ($7.5 million) for the company and pledged to invest another 8 million into the firm.

Carven's last publicly disclosed figures were a net profit of 67,000 euros on sales of 49 million euros in 2015.

Carven labelled perfumes and cosmetics was not part of the bankruptcy procedure.

Two-thirds of the Beranger holding that controlled Carven was owned by the Hong Kong distributer Bluebell since 2016.