Li & Fung
From Wikipedia, the free encyclopedia
Li & Fung Limited |
Type | Public company |
Traded as | SEHK: 0494 |
Industry | Supply chain management |
Founded | 1906 |
Headquarters | Hong Kong |
Key people | Victor Fung, Chairman, William Fung, Managing Director, Bruce Rockowitz, President |
Products | Apparel, household goods, furnishings,toys, health and beauty products |
Revenue | US$20 billion |
Website | |
Li & Fung Limited (Chinese: 利豐有限公司) is a global trading group, based in Hong Kong, that supplies high-volume, time-sensitive consumer goods. Garments make up around two-thirds of the Li & Fung business which also covers the sourcing of hardgoods such as fashion accessories, furnishings, gifts, handicrafts, home products, promotional merchandise, toys, sporting goods and travel goods.
As a supply chain manager across many producers and countries, Li & Fung provides product design and development, raw material and factory sourcing, production planning and management, quality assurance and export documentation to shipping consolidation.
Contents  [hide]    * 1 History   * 2 The business today   * 3 External links   * 4 References |
The company was co-founded in 1906 by Fung Pak-liu, using capital saved from his job teaching English, and partner Mr Li. Based inGuangzhou (Canton), it was then an export trading operation, dealing in porcelain, fireworks, jade handicrafts and silk, mainly to the United States.
In 1937 the firm incorporated in Hong Kong to take advantage of the British colony's oceangoing ships. After World War II, China closed for international business and the company refocused as an exporter of Hong Kong manufactured goods. It was now led by Fung Hon-chu, son of the founder and father of the present controlling brothers, William and Victor. Li & Fung became a big exporter of...