Past present future
At Li & Fung we never stand still and always look toward the future.
Founded in Canton, (today’s Guangzhou) China by Fung Pak-liu and Li To-ming.
Fung Pak-liu’s second son, Fung Hon-chu, established the company’s first branch office in Hong Kong.
Li & Fung began to export garments, toys, electronics and plastic flowers on top of its original product lines, and grew into one of Hong Kong’s biggest exporters in dollar terms.
The third generation of the Fung family, Victor and William, joined the company and worked with their father to modernize and build Li & Fung into a well-structured, modern enterprise with professionals at every level.
The company’s transformation was well-received, and when the company listed on the Hong Kong Stock Exchange, the new issue was oversubscribed 113 times, a record that remained for 14 years.
With the opening up of China, Hong Kong manufacturers began to relocate factories to southern China to take advantage of the vast labor force and development potential across the border.
The remarkable industrialization and rapid growth in East and Southeast Asia brought new economies into the global supply chain and Li & Fung broadened its footprint in response. The investments made during those years established the company’s regional office network, which today is the backbone of our ability to serve customers with agility and speed.
Li & Fung was taken private to facilitate restructuring the business – representing one of the first management buyouts in Hong Kong.
Li & Fung embarked on an ambitious expansion program with the aim of globalizing our operations. Through a number of strategic acquisitions we more than doubled the size of the Group.
Li & Fung Limited was re-listed on the Hong Kong Stock Exchange, where it retains its listing today.
Li & Fung became one of the constituent stocks of the Hang Seng Index.
Privatized the IDS Group to create greater synergies and leverage the strengths of logistics and distribution.
Acquired China Container Line, expanding our international freight forwarding capability. Spun-off our brands and licensing business (Global Brands Group) into a separate listing on the Hong Kong Stock Exchange.
Today, we specialize in responsibly managing sustainable supply chains of high-volume, time-sensitive consumer goods for leading retailers and brands through some 250 offices and distribution centres in over 40 markets.
By connecting with 15,000 suppliers globally, we source, create and deliver products for our customers through competitive pricing, quality and reliable delivery. Our services include all aspects of the supply chain from product design, raw material sourcing and production management to quality control, logistics, and shipping.
Our expertise range from softgoods such as garments and apparel to hardgoods, such as toys, home furnishings, sporting goods, footwear, and health and beauty products.
Our Trading business provides strategic sourcing services to retailers, brand owners and wholesalers to support their brands on both an agency (commission margin) and a principal (product margin) basis. It also offers design and products to retailers on a wholesale basis.
Our Logistics business is a leading player for logistics in distinct verticals across Greater China and Southeast Asia, and interacts with our trading business to provide comprehensive in-country logistics solutions and international freight forwarding services.
For more than a century, Li & Fung has been developing networks and building long-term, meaningful relationships with our stakeholders. While proud of our rich entrepreneurial heritage, we are very much a forward looking company.
2014-2016 Three-Year Plan
Every three years, we engage in a strategic planning process to determine our future direction, plan our growth and reinvent ourselves. We call it our Three-Year Plan, a focused plan with clear goals for our future success. Our ‘zero-based’ planning process is very important to the success of our company. We are able to retain the agility of a start-up while leveraging the strength of a global organization.
Our global reach, broad range of product offerings, and strength of our key customer relationships allow the management team to focus on accelerating organic growth across our businesses while creating a sustainable structure.