25 August 2016
The Company reported first half 2016 results against the background of a tough economic and retail environment.
23 May 2016
Top brands to discover hundreds of new beauty concepts and innovations in Shanghai.
19 May 2016
All shareholder resolutions were approved and adopted at the 2016 AGM in Hong Kong
3 May 2016
Li & Fung continues to simplify its overall business to focus on trading and logistics
26 April 2016
Largest automated and customs bonded distribution facility in Singapore set to tap into booming e-commerce industry and serve as logistics hub for Asia and the world
17 March 2016
The Company reported results which reflect the challenging macroeconomic environment and disruption at retail. Despite headwinds, including downward pressures from the deflationary environment and currency depreciation, the Company preserved its top line growth with core trading customers and increased its trading unit volume. The logistics business continued to deliver double-digit growth.
16 October 2015
LF Logistics has scored a double by picking up the Asia Pacific Regional Logistics Service Provider of the Year and Asia Pacific Warehouse Service Provider of the Year awards.
2 September 2015
LF Beauty today announced the official opening of a new research and development facility in Thailand that has also been awarded LEED® Platinum certification from the U.S. Green Building Council (USGBC). The R&D facility scored 92 out of a total 110 points, the highest score obtained among ten other LEED Platinum certified projects in Thailand.
20 August 2015
Despite tough headwinds, including downward pressures from the deflationary environment and European currencies depreciation, the Company preserved its top line growth with both core trading customers and ongoing strong performance in the logistics business.
23 June 2015
The joint venture aims to transform China’s retail industry through enhancing supply chain efficiency. Under the terms of the partnership, Li & Fung will provide expertise to design, source and produce private labels and licensed brands tailored to the requirements of Bailian Group and Wangfujing Department Store.
30 March 2015
LF Beauty and Cosmecca Korea Co,. Limited have signed a memorandum of understanding (MoU) to collaborate on the research and development and manufacturing of beauty and skincare products for brands and retailers worldwide.
19 March 2015
Li & Fung reported results against a challenging macroeconomic environment. Despite difficult retail conditions in a number of key markets, the business delivered 1.4% growth in turnover. “2014 was a year of transition and investment to position the Company for future growth,” said Spencer Fung, Group CEO.
21 August 2014
The Company reported solid results in the first half of 2014 against a mixed economic landscape. The business delivered growth in turnover and total margin. Investments at the beginning of the Company’s new Three-Year Plan, unveiled in March this year, impacted core operating profit.
9 July 2014
Public trading of Global Brands commenced today. The listing was by way of a 100 per cent distribution in specie, with no capital market fundraising activities. Each Li & Fung shareholder received one Global Brands share for every share it owns in Li & Fung.
1 July 2014
Li & Fung announced that it is proceeding to the completion of the listing of the Global Brands Group shares on the Main Board of The Stock Exchange of Hong Kong Limited on July 9, 2014. The Board’s approval follows the issue of the Global Brands Group’s Listing Document on June 26, 2014.
21 May 2014
Li & Fung today announced an important milestone with the acceptance for review of its listing application (“Form A1”) to The Stock Exchange of Hong Kong Limited for the listing of Global Brands Group Shares on the Main Board of the Stock Exchange. The application is now subject to the approval of the Stock Exchange and, if successful, will result in the listing of Global Brands Group.
20 March 2014
"2013 was a pivotal year for Li & Fung,” said Dr. William K. Fung, Chairman of Li & Fung Limited. “We proved successful against uncertain external conditions, achieved strong growth, and finished the year by delivering on the promise to return to 2011 operating levels.”
6 January 2014
Li & Fung today announced the creation of a new business unit to focus more intensely on factory and worker safety following recent tragedies in the garment industry, as well as the on-going needs of its global vendor base.
13 August 2013
In the first six-month period ending 30 June 2013 Li & Fung achieved a turnover of US$9,129 million. This was comparable to the US$9,128 million achieved in the first half of 2012, reflecting that, increasingly, the Group’s businesses are skewed towards the second half of the year due to seasonality effects and change in the business mix towards wholesale and distribution.
21 March 2013
Turnover achieved in the year ended 31 December 2012 was US$20,222 million, 1% higher than the year before. In line with the Group’s profit alert announced on 11 January 2013, core operating profit declined by 42% to US$511 million in 2012, largely due to costs of restructuring LF USA’s business and reduction in the number of brands distributed in the US.
15 January 2013
Lornamead owns and manages a portfolio of traditional and heritage U.S., German and U.K. personal care brands, such as Finesse, CD, Aqua Net, Yardley and Lypsyl, across hair, body, skin and oral care product categories.
2 November 2012
Investor demand for the debut issuance of the Perpetual Bonds was strong and the issue was over-subscribed by over 10 times. Li & Fung will apply the net proceeds primarily towards business development and acquisitions.
1 November 2012
Funds will be deployed for strategic acquisitions and business development, which enables the Company to be well positioned to take advantage of present shifts in the global economy and in consumer trends to capture new growth opportunities geographically, particularly in Asia and especially in China.
9 October 2012
Li & Fung appoints Ed Lam, MBA, CPA, as Chief Financial Officer in line with expansion of the senior management team to facilitate the group’s organic growth and acquisition strategy. Lam brings 20 years of accounting, corporate finance, investment banking and M&A experience to CFO position
9 August 2012
Li & Fung announced that turnover achieved in the first six-month period ending 30 June 2012 was US$9,128 million, an increase of 4% from US$8,798 million in the first half of 2011. Compared to the same period last year, turnover growth from Trading Network, Logistics Network and Distribution Network was 4%, 5%, and 6% respectively.
14 May 2012
The Board of Directors of Hong Kong-based multinational Li & Fung Limited today confirmed the appointment of Dr William Fung as Group Chairman and Executive Director of Li & Fung, in line with transitional arrangements announced following the Annual General Meeting (“AGM”) held in May 2011 when Dr Victor Fung declared he would relinquish his position as Group Chairman at this year’s AGM.
22 March 2012
Li & Fung announced robust growth for 2011, reflecting market share gains and the synergistic dynamics of its new structure of three Business Networks. Despite a sluggish global economy, the Group’s turnover for the year ended 31 December 2011 was US$20,030 million, 26% higher than the year before.
19 March 2012
Li & Fung welcomed the Court of Appeal’s judgment in favor of its subsidiary, Li & Fung (Trading) Limited (“LFT”). The Court of Appeal has upheld the judgment of the Court of First Instance on LFT’s Offshore Claim and has dismissed the appeal by the Hong Kong Inland Revenue (“HKIR”).
19 January 2012
Li & Fung has acquired the children apparel and toys businesses in Greater China from The Roly Group (“the Seller”) in September 2011. This is Li & Fung’s first acquisition for LF Asia since the expansion of its Distribution business to Asia last year.
12 December 2011
“The CFDA and its members are the driving force in American fashion,” said Rick Darling, President of LF USA. “We are incredibly excited to be a part of this influential organization as we look to deepen our relationships with U.S.-based designers.”
8 December 2011
The new licenses will add to the brand’s ever expanding portfolio of licensees and complement the existing Geoffrey Beene men’s product categories. Initial deliveries are slated for Fall 2012.
11 August 2011
Li & Fung announced strong turnover growth for the first six months of 2011. The increase reflects the continuing expansion of its market share through both organic growth and acquisitions. For the first six months ending 30 June 2011, the Group’s turnover was US$8,798 million, 33% higher than same period in 2010.
22 June 2011
The new additions to Li & Fung’s Trading Network include the acquisitions of Loyaltex Apparel, Collection 2000 and Exim Designs. In addition, the Group has acquired TVMania and Hampshire Designers for its Distribution Network.
18 May 2011
With immediate effect, Mr Bruce Rockowitz is appointed Group President and Chief Executive Officer and Dr William Fung is appointed Executive Deputy Chairman. Dr Victor Fung will relinquish his position as Group Chairman by the next Annual General Meeting in 2012 at which time Dr William Fung Kwok Lun will assume the chairmanship.
24 March 2011
For the year ended 31 December 2010, the Group’s turnover grew 19% over the year before to HK$124.1 billion (US$15,912 million), reflecting improving consumer sentiment. Core operating profit increased to HK$5,656 million (US$725 million) as a result of further margin improvement from the higher- margin onshore businesses of the United States and Europe.
25 January 2011
Beyond Productions was founded in 2004 in partnership with Jason and Arthur Rabin to bring trend-setting style to fashion conscious women everywhere. The Company’s well-known brands include ready-to-wear, casual sportswear, denim, outerwear, handbags, footwear, and other accessories which are distributed through traditional and mid-tier department stores, mass merchants and specialty stores worldwide.
23 November 2010
Oxford Apparel produces branded and private label products including men’s dress shirts, suited separates, sport shirts, casual slacks, outerwear, sweaters, jeans, swimwear and western-wear. Its products are sold to a variety of department stores, mass merchants, specialty catalog retailers, discount retailers, specialty retailers and internet retailers throughout the Unites States.
3 November 2010
The agreement will cover sourcing for a certain range of brands in both international and domestic China market, including soft goods for Li Ning’s popular running, basketball and lifestyle lines.
7 October 2010
The Scheme was approved at the Court Meeting held on October 7, 2010, and various matters for the implementation of the Scheme were approved at the Special General Meeting of IDS held immediately after conclusion of the Court Meeting on October 7, 2010.
13 September 2010
At a Special General Meeting of Li & Fung held on September 13, 2010, shareholders voted 99.80% in favour of the transaction. The Scheme is subject to the outcome of IDS’s court meeting and Special General Meeting.
12 August 2010
Jimlar is a leading designer, distributor and supplier of footwear in the U.S. and internationally, producing footwear under license from Coach and Calvin Klein as well as its own brands Frye, Mountrek and RJ Colt. The acquisition will significantly expand LF USA’s footwear platform, which was established in 2009.
12 August 2010
For the first six months ending 30 June 2010, the Group’s turnover was HK$51,792 million, 12% higher than same period in 2009. Core operating profit increased to HK$2,635 million on the back of continued growth in the higher-margin onshore businesses of the United States and Europe, disciplined cost control and the provision of more value-added services.
8 July 2010
The new venture, called MESH (Music Entertainment Sports Holdings), will combine LF USA’s strength in building global brands supported by its global sourcing network and distribution resources, and Star Branding’s expertise in fashion and licensing opportunities inspired by music, entertainment and sports celebrities.
8 July 2010
Cipriani Accessories Inc., is a leading designer, distributor and importer of men’s and women’s accessories in the US, Mexico and Canada. Cipriani Accessories will be a part of LF USA’s Fashion Accessories Group, which includes Kathy Van Zeeland and Rosetti handbags, among others.
8 July 2010
This includes three acquisitions related to health, beauty and cosmetics (HBC) sector, jeanswear, and US onshore businesses respectively, as well as four licensing deals. Initial cash consideration for the three acquisitions amounts to approximately US$140 million, funded by the Group’s internal cash reserves. In addition, there are other performance based payments over time.
16 June 2010
The Rachel Zoe lifestyle collection will reflect her strong connection to the stylish, contemporary consumer and will offer a unique selection of women’s apparel, footwear, handbags, jewelry and accessories.
7 June 2010
Under the terms of this new agreement, LF USA will produce men's and juniors sportswear and be responsible for the production and distribution of sportswear under the TapouT and MPS brands.
7 May 2010
Li & Fung Limited ...... announced that it has proceeded with the offering of the notes and has entered into the subscription agreement with joint lead managers in relation to the distribution of the notes.
6 May 2010
Li & Fung Limited ...... rated A3 (stable) by Moody’s and A- (stable) by Standard & Poor’s, proposes to offer notes to professional/institutional investors in transactions exempt from the registration requirements under the Securities Act.
24 March 2010
For the year ended 31 December 2009, Li & Fung's turnover was HK$104,479 million (US$13,395 million), 6% lower than the year before, reflecting sluggish markets, a number of customer insolvencies and the current tactic of many other customers to maintain tight inventory levels.
25 February 2010
Visage is a leading private-label apparel supplier to leading high street and mass retailers in the UK. The initial purchase consideration is approximately £57.5 million (HK$690 million) plus a performance-based sum of up to £115.5 million (HK$1,386 million). The total consideration will not exceed £173 million (HK$2,076 million).
13 January 2010
Li & Fung has opened its new 7,100 square meter hub in Istanbul for the Company’s sourcing business in Europe, the Mediterranean, Middle East, Northern Africa and the former Soviet Union republics.
8 December 2009
Li & Fung has entered a global sourcing strategic partnership for Hudson’s Bay Trading Company’s four main retail banners, the Bay, Zellers, Home Outfitters and Lord & Taylor.
19 October 2009
The purchase consideration was approximately US$100 million plus performance based, contingent payments over the next five years. The initial purchase consideration will be satisfied in cash and financed by Li & Fung’s internal cash reserves. Completion of the acquisition is expected to take place prior to end of November, 2009.
13 August 2009
For the first six months ended 30 June 2009, the Group’s core operating profit increased by 11% to HK$1,697 million. The Group’s turnover was HK$46,292 million (US$5,935 million), 2% lower than the same period last year, which reflects the weakness in consumer markets and some customer insolvencies announced earlier.
13 August 2009
The Talbots, Inc. (NYSE:TLB) and Hong Kong-based global consumer goods exporter Li & Fung Ltd. (SEHK: 494) have entered into a buying agency agreement whereby Li & Fung will act as the exclusive global apparel sourcing agent for the Talbots brand.
18 June 2009
LF USA, a subsidiary of Hong Kong-based Li & Fung Limited, announced today that it has signed a licensing agreement with Rebecca Moses to manufacture and distribute the Rebecca Moses Heart Soul Style brand.
16 June 2009
Li & Fung has welcomed the Inland Revenue Ordinance Board of Review's decision in favour of an appeal by its subsidiary, Li & Fung (Trading) Limited ("LFT"), that offshore claim of certain non-Hong Kong sourced income of LFT is valid.
10 June 2009
As agent to Arcandor, Li & Fung supervises the production of garments and hard goods for Arcandor. The outstanding agency commission owed to Li & Fung is approximately US$5.4 million.
25 March 2009
For the year ended 31 December 2008, the Group’s turnover was HK$110,722 million (US$14,195 million), 20% higher than the year before. The strong growth in turnover reflects the Group’s strength in expanding its market share due to resilient organic growth and the flow of outsourcing deals and acquisitions.
23 February 2009
Li & Fung have entered into a long-term, exclusive Buying Agency Agreement whereby Li & Fung will act as the primary global apparel and accessories sourcing agent for all brands in the Liz Claiborne Inc. portfolio, including Lucky Brand, Juicy Couture, Kate Spade, and Isaac Mizrahi designed Liz Claiborne New York with the exception of the jewelry product lines.
5 January 2009
Li & Fung today clarified that the Group was acting as buying agent for KB Toys, managing the production of its orders at factories appointed by KB Toys. The outstanding amounts due to the factories are owed by KB Toys.
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