Li & Fung to focus on acquisition of US clothing and accessories brands in the future
Bruce Rockowitz, president of Hong Kong-listed supply chain company Li & Fung, said the future focus for the company will be to acquire US clothing and accessories brands. A report in the Standard also cited Li & Fung’s chairman William Fung Kwok-lun, who commented on the company’s proposed spin off of its global brands and licensing subsidiary as being part of Li & Fung’s three-year plan to diversity its operational risks
Li & Fung’s reported a 17% increase in net profit to USD 725m in 2013, the item noted.
Source The Standard