Li&Fung news and archive

Li & Fung names Darren Palfrey as Chief Digital Officer

Li & Fung has appointed Darren Palfrey as the company’s Chief Digital Officer (CDO). The company said in a statement that as CDO, Palfrey’s primary focus will be to realize Li & Fung’s vision of the supply chain of the future and build the LF Digital Platform – a fully-integrated digital platform that connects suppliers, customers and other...

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Li & Fung names Weizhong Zhu as Chief Operating Officer

Li & Fung has announced that Weizhong Zhu (Wilson) has joined the company as Chief Operating Officer (COO) and will lead operations across all Li & Fung’s over 40 production countries. The company said in a statement that as Li & Fung pushes ahead on its digital supply chain strategy to build the supply chain of the future, Zhu will focus on...

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Li & Fung turnover drops 9.6 percent in the first half

Li & Fung Limited announcing its interim results for the six months ended June 30, 2018 said that in the period under review, the company was affected by a challenging macroeconomic and retail environment which saw continued destocking, store closures and bankruptcies. Core operating profit of its continuing operations for the first half of the...

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Li & Fung: Annual turnover declines by 4.6 percent to 13.5 bn dollars

Li & Fung Limited reported turnover decrease of 4.6 percent to 13.5 billion dollars and total margin as a percentage of turnover increased from 9.9 percent to 10.2 percent.. The company said, improved operating efficiency and productivity led to a 21.8 percent increase in the core operating profit of the services segment of supply chain...

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Valerie Lavion joins as Executive Director at Li & Fung

Li & Fung has announced the appointment of Valerie Lavion as Executive Director leading the company’s children’s wear platform and department stores in North America. Based in Hong Kong, the company said, Lavion will play a key role in helping the company continue to accelerate efforts to drive speed, digitalization and innovation across the...

Business

Li & Fung acquires May Trading UK

Li & Fung, the Hong Kong-based global supply management group, has acquired May Trading UK, clothing supplier to high street labels such as Primark, Next and Topman out of administration. The Hong-Kong group also acquired MA Hong Kong, May Trading's partner company as part of the agreement as well as the sales and merchandising staff including...

Apparel

Kent & Curwen to launch in the US

British heritage brand Kent & Curwen has signed a licensing deal with Hong Kong-based supplier and distributor Li & Fung to launch in America. Trinity International, a division of the Fung Group, which also looks after Gieves & Hawkes, will act as the licensor and the brand will use Li & Fung’s existing distribution platform to enter the...

Apparel

Li & Fung first-half net profit drops by 69 percent

Hong Kong-based global sourcing firm Li & Fung announced the interim results for the first half of the year that ended on 30th June 2013 yesterday. Though net profits slumped by 69 percent, the company is confident that the worst is over and is expecting more business in the second half of the year, which is generally the stronger one,...

Fashion

Vena Cava signs deal with LF USA

Vena Cava, a New York-based contemporary women’s fashion label, has announced that it has entered into a multi-year licensing and design agreement with LF USA, a subsidiary of Hong Kong-headquartered Li & Fung Limited, the multinational consumer goods export and logistics group. As part of the agreement, Vena Cava founders Lisa Mayock and Sophie...