×
1 867
Fashion Jobs
VF INTERNATIONAL
dc Team Leader
Permanent · COALVILLE
ESTÉE LAUDER
Clinique - Consultant - Boots, Trafford - 15 Hours - Part Time, Permanent
Permanent · Manchester
FOOT LOCKER
Community Marketing Manager
Permanent · London
VF INTERNATIONAL
UK Retail - IT Senior Service Delivery Analyst
Permanent · NOTTINGHAM
VF INTERNATIONAL
dc Team Leader
Permanent · COALVILLE
EUDON CHOI
Production Manager
Permanent · LONDON
TK MAXX
Loss Prevention Officer - tk Maxx Bristol
Permanent · Bristol
LONDON CONTOUR EXPERTS
Marketing Executive/Junior Manager
Permanent · LONDON
ESTÉE LAUDER
Tom Ford - Business Manager - Flannels - Fosse Park, Leicester - 37.5 Hours - Full-Time - Permanent
Permanent · Leicester
VF INTERNATIONAL
International Account Coordinator - Ftc 12 Month
Permanent · NOTTINGHAM
TIMBERLAND
Credit Controller - German Speaking - Timberland
Permanent · CALVERTON
THE NORTH FACE
Credit Controller - Italian Speaking - The North Face
Permanent · CALVERTON
THE NORTH FACE
Credit Controller - French Speaking - The North Face
Permanent · CALVERTON
PINKO
Supervisor
Permanent · MANCHESTER
RALPH LAUREN
Operations Manager
Permanent · Cheshire
ESTÉE LAUDER
Clinique - Consultant - Lisburn, Boots - Sprucefield - 30 Hours - Full Time, Permanent
Permanent · Lisburn
ESTÉE LAUDER
Clinique - Consultant - Edinburgh, John Lewis - 37 Hours - Full-Time, Permanent
Permanent · Edinburgh
ESTÉE LAUDER
Clinique - Consultant - Lisburn, Boots - Sprucefield - 30 Hours - Full Time, Permanent
Permanent · Lisburn
ESTÉE LAUDER
Clinique - Consultant - Lisburn, Boots - 30 Hours - Full Time, Permanent
Permanent · Lisburn
ESTÉE LAUDER
Clinique - Consultant - Lisburn, Boots - 30 Hours - Full Time, Permanent
Permanent · Lisburn
ESTÉE LAUDER
Clinique - Consultant - Lisburn, Boots - 30 Hours - Full Time, Permanent
Permanent · Lisburn
ESTÉE LAUDER
Clinique - Consultant - House of Fraser, Maidstone - 15 Hours - Part Time, Permanent
Permanent · Maidstone
By
Reuters
Published
Jun 23, 2015
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

HK's Li & Fung sets up China JV, targets 300 stores

By
Reuters
Published
Jun 23, 2015

Global exporter Li & Fung Ltd has formed a joint venture with two Chinese department store operators, with the aim of setting up as many as 300 stores and developing its own private labels, the Hong Kong firm said on Tuesday.

The firm will own 20 percent of the joint venture, while Beijing Wangfujing Department Store Group Co Ltd and Shanghai Bailian will each hold a 40 percent stake.

Li & Fung


The joint venture, which will be called BaiFuLi Co Ltd, may help Li & Fung to make up for some of the business it recently lost from U.S. retail giant Wal-Mart Stores Inc. Li & Fung reported an 11.8 percent fall in 2014 net profit in March.
BaiFuLi will have a registered capital of 48 million yuan ($7.7 million).

Li & Fung said developing proprietary brands would help the joint venture differentiate from rivals "amid increasing competition in a fast-evolving retail landscape".

Li & Fung


"Through this strategic partnership, Li & Fung is able to extend the global supply chain into a substantial retail network that serves a large growing middle class in China," William Fung, Group Chairman of Li & Fung, said in the statement.

The venture aims to develop between one and three private labels and up to six licensed brands over a three-year period, it added. This could see the venture opening up to 300 stores and pulling in up to 1 billion yuan ($161 million) in sales.

The Hong Kong-based exporter lost some business in May from Wal-Mart and handbag maker Kate Spade & Co, after the two companies decided to bring in-house some of the product sourcing that has been handled by Li & Fung.

© Thomson Reuters 2021 All rights reserved.