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.

ANNUAL MEETING

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

15 May 2013

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...

4:01AM

European, US retailers split on Bangladesh reform plan

14 May 2013

Major US retailers, including Gap, declined to endorse an accord on Bangladesh building and fire safety backed by Europe’s two biggest fashion chains, a trans-Atlantic divide that may dilute...

5:06PM

Asia invests in European fashion brands

14 May 2013

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...

11:14AM

Li & Fung off target as markets take profit toll

22 Mar 2013

Clothing and toy supplier Li & Fung said it would miss targets under its three-year plan after reporting a profit drop for the first time in four years due to sluggish major markets and the...

4:42AM

Doubts rise over Li & Fung future

9 Feb 2013

Shares in Li & Fung plunged to a new low of HK$9.93 yesterday after the company lost another contract from a US client, renewing fears that the biggest distribution and trading company in Hong...

4:51AM

Fraying at the seams

5 Feb 2013

The force is weak in them. Even the combined powers of Yoda's light-sabre lip balm, Bob the Builder t-shirts and Jennifer Lopez bras haven't been enough to lift Li & Fung's sagging earnings....

5:29AM

Opinion

Wang Xiangwei

Placating graduates a work in progress

5:24AM

George Chen

For HSBC, the first love is apparently not the deepest

7:12AM

Wal-Mart plans US$50 billion ’buy American’ push

Wal-Mart Stores will buy an additional US$50 billion in US-made products over the next decade in what it called a bid to help boost the US economy, although the announcement is unlikely to appease...

1:07PM

Business Digest, January 16, 2013

Morgan Stanley job cuts in Asia to hit 15pc

3:41AM

Outlook dims for Li & Fung shares

Analysts cut their targets for Li & Fung's share price after the company surprised them with a profit warning.

3:47AM

LAI SEE HOWARD WINN

CLSA pays respect to financial markets karma

We have alluded in recent days to poor forecasting of financial indices and stocks by the broking industry. That has prompted the arrival of a couple of reports showing rather good forecasting...

4:02AM

EARNINGS

Li & Fung expects 2012 core operating profit to drop 40pc

Li & Fung says net profit for last year will not exceed that of the previous year and core operating profit will in fact drop 40 per cent, worse than analysts' estimates.

"This is worse...

4:02AM

GENDER EQUALITY

'Women to play bigger role' in accounting

The first woman to break through to become president of the Hong Kong Institute of Certified Public Accountants says women are poised to play an increasingly important leadership role in the...

5:31AM