Li&Fung news and archive

Li & Fung to develop swimwear range for Loft

Li & Fung has announced an exclusive category licensing agreement with Loft to expand the latter’s offerings within the high-growth swimwear category. The company said in a release, Li & Fung will develop a new line of women’s swimwear that debuts for fall 2024 at full price retailers nationwide featuring an assortment of one-piece swimsuits,...

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Sanctuary Clothing signs licensing partnership with Li & Fung

Contemporary apparel brand Sanctuary Clothing is expanding its denim category after signing a licensing agreement with Hong Kong-based supply chain solutions partner Li & Fung Limited. The licensing partnership will see Sanctuary launching a new line of women’s premium denim, which will be produced and distributed by Li & Fung. The new premium...

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Li & Fung signs long-term partnership with Maersk

Li & Fung Limited and A.P. Moller - Maersk, an integrated logistics company, have formed a long-term strategic partnership. The company said that the partnership will enable both companies to utilize their respective resources and global networks to create a comprehensive range of end-to-end global supply chain services. In addition to this...

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Li & Fung names Spencer Fung as Executive Chairman and Joseph Phi as new CEO

Li & Fung Limited has announced new leadership appointments following the recent privatization of the company. With immediate effect, the company said in a statement, Joseph Phi, group president, is appointed Group Chief Executive Officer of Li & Fung and Spencer Fung succeeds William Fung as Executive Chairman. William Fung will sit on the...

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Li & Fung's 2019 turnover decreases, receives privatization offer

Li & Fung Limited has said in a statement its core operating profit (COP) decreased by 22.9 percent to 228 million dollars for the year to December 31, 2019 due to reductions in turnover and margin pressure in the Supply Chain Solutions business. The company added that turnover decreased by 10.1 percent to 11.4 billion dollars due to continued...

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Li & Fung H1 turnover decreases by 8.4 percent

In its interim results announcement for the six months, Li & Fung Limited, supply chain solutions partner for brands and retailers, said, on a like-for-like basis, turnover decreased 8.4 percent to 5,356 million dollars mainly due to ongoing destocking, customer turnover and customer bankruptcies as brands and retailers continued to face...

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Li & Fung reports 20 percent drop in 2018 operating profit

For the year ended 31 December 2018, Li & Fung Limited said, on a like-for-like basis and excluding the impact of the strategic divestment of the three product verticals in April 2018, which triggered a one-off disposal loss of 114 million dollars, core operating profit decreased by 20 percent to 285 million dollars due to decreases in turnover...

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Fung Group and Li & Fung announce the appointment of senior executives

While Li & Fung has appointed Joseph Phi replacing Marc Compagnon as the company’s new Group President, Fung Group has elevated Compagnon to Senior Advisor. The companies announced through separate media statements that working across the Fung Group of companies, whose core businesses operate across the entire global supply chain for consumer...

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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...