• Sun
  • Aug 31, 2014
  • Updated: 6:55am

Li & Fung

Li & Fung is a Hong Kong-based global trading group, that supplies high-volume, time-sensitive consumer goods, and is a major customer of global retail giant, Wal-Mart. Garments make up around two-thirds of the Li & Fung business which also covers the sourcing of hard goods such as fashion accessories, furnishings, gifts, handicrafts, home products, promotional merchandise, toys, sporting goods and travel goods. Key officials are William Fung, executive chairman, and Bruce Rockowitz, president and chief executive.

Li & Fung needs to focus on its core businesses - and get rid of the rest

Investors should be sceptical of any company that heavily depends on a strategy driven by acquisitions and restructuring, but Li & Fung's appetite for deal-making, which chief executive Bruce Rockowitz claims offers "huge synergies", is looking less credible by the year.

Friday, 4 April, 2014, 12:27am 8 comments

Investors turn bullish on Li & Fung after makeover

Options traders are turning bullish on Li & Fung, a supplier to Wal-Mart Stores, betting on a revival of its American operations after the stock lost 61 per cent of its value.

3 Mar 2014 - 2:59am

Fire destroys Bangladesh clothes factory supplying Li and Fung

A fire yesterday destroyed a Bangladesh garment factory supplying Hong Kong-based Li and Fung and some big Western brands. The blaze was started by workers angered by rumours police had shot dead a colleague.

30 Nov 2013 - 3:12am

Li & Fung shares drop nearly 5pc on report about Wal-Mart cutting orders

Global exporter Li & Fung said business with its major customer Wal-Mart Stores is normal, but its shares still slid as much as 4.9 per cent on a report that the US retailer is cutting orders to suppliers.

26 Sep 2013 - 5:52pm

Finding new ways to stay afloat

Some of the top investment bankers in Hong Kong have chosen to leave a high-flying career in the financial industry and return to more traditional businesses, such as real estate and trade, fuelling doubts about the attractiveness of investment banking jobs in the future.

26 Aug 2013 - 6:58am

Li & Fung has work to do to convince sceptics

Global trader Li & Fung has yet to deliver the strong turnaround that its management pledged this year, but the group's senior executives said core profit in the second half could jump as much as three times that of the first half.

14 Aug 2013 - 3:32am

Li & Fung 'past worst' in turnaround push

Li & Fung, the world's largest supplier of goods to global retailers including Wal-Mart and Target, insisted the worst was behind it as it posted a 69 per cent drop in first-half net profit and said it remained hopeful of a recovery in its core US business by the end of this year.

14 Aug 2013 - 3:31am

Li & Fung 'doing its best' on factory safety

Global sourcing company Li & Fung is helping the Bangladeshi government enhance the safety of factories which manufacture products for multinationals, but it was up to the authorities to enforce the laws on safety standards, group chairman William Fung Kwok-lun said.

13 Jun 2013 - 6:34am

Li & Fung lays out US$10m on fire safeguards

The blaze last year that killed more than a hundred factory workers in Bangladesh has prompted Li & Fung to spend US$10 million upgrade the firefighting equipment in the Bangladeshi factories that make clothing for the firm.

15 May 2013 - 4:01am

Asia invests in European fashion brands

An appreciation of heritage, an eye for a bargain, or perhaps a bit of both - whatever the mix of factors, Asian investors have been acquiring prestigious, if sluggish, European brands for more than a decade, often bringing fresh verve to the businesses.

14 May 2013 - 11:14am

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