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Li & Fung Limited
利豐有限公司
Public company
Traded as 0494
Industry Supply Chain Management
Founded 1906; 111 years ago (1906)
Headquarters Hong Kong, China
Key people
William Fung, Executive Chairman
Spencer Fung, Group Chief Executive Officer
Products Apparel, household goods, furnishings, toys, health and beauty products
Revenue $18.83 billion (2015)
Website www.lifung.com
Li & Fung
Traditional Chinese 利豐有限公司
Simplified Chinese 利丰有限公司

Li & Fung Limited is a global supply chain manager primarily for US and EU brands, department stores, hypermarkets, specialty stores, catalogue-led companies, and ecommerce sites.

Li & Fung was founded in 1906 in Canton and is headquartered in Hong Kong. As of 2016, apparel makes up around two-thirds of the business, with furniture and home furnishings, beauty and personal care products, fashion accessories and general merchandising, such as seasonal gifts, constituting the rest.

Today, Li & Fung employs about 22,000 people worldwide. It does product design and development, raw materials and factory sourcing and capacity building, vendor compliance and distribution. It has over 250 offices in 40 markets. It works with 15,000 suppliers to service 8,000 customers.

On 13 February 2017, it is no longer a constituent of Hang Seng Index.

Li & Fung was founded in 1906 in Guangzhou (Canton) by Fung Pak-liu (d. 1943), an English teacher, and Li To-ming, a local merchant whose family owned a porcelain shop It started as an export trading company, exporting porcelain, fireworks, jade handicrafts and silk mainly to the United States.

In 1937, Fung's son Fung Hon-chu opened the company's first branch office outside of mainland China in Hong Kong. It was incorporated later that year in Hong Kong. Li sold his 300 shares of the company in 1946, leaving the company in the hands of the Fung family. In 1951, due to a United Nations trade embargo on China, Hong Kong started manufacturing textiles and plastics. With this change, Li & Fung began exporting garments, toys, wigs and plastic flowers.

By the early 1970s, Li & Fung's broker role was being squeezed by both manufacturers and importers, the rise of competing Asian Tiger economies as low-cost production locations and major Western retailers engaging directly with Asian suppliers. William and Victor Fung, the sons of Fung Hon-chu, returned from the US to work on modernizing the company. Starting in China and Asia, sources from countries closer to target markets were sought out: Mexico, Honduras and Guatemala, for the US; Turkey, Egypt and Tunisia for Europe.

In 1973, Li & Fung was listed on the Stock Exchange of Hong Kong. In 1988 the Group was privatized and streamlined, incorporated in Bermuda in 1991, and its trading activities were listed on the HKSE in July 1992.

In 1995, Li & Fung acquired Inchcape Buying Services (formerly known as Dodwell & Co.). It was part of Inchcape plc, a British trading company with a network of offices in India, Pakistan, Bangladesh, and Sri Lanka. The acquisition of Inchcape Buying Services expanded the company's customer base while simultaneously shifting its sourcing network beyond East Asia to include the Indian sub-continent, the Mediterranean, and Caribbean basins. Four years later, in 1999, Li & Fung acquired Swire & Maclaine and Camberley.


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