Home / Knowledge / News / Apparel/Garments / Roly Group buyout strengthens LF Asia's brands portfolio
Roly Group buyout strengthens LF Asia's brands portfolio
20
Jan '12
Hong Kong-based Li & Fung Limited announced it 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.

The acquired children apparel and toys businesses in Greater China generated net sales of approximately US$70 million in financial year 2011. Total purchase consideration for this acquisition amounts to approximately US$41 million.

This transaction covers the wholesaling, retailing and sourcing of children apparel and toys businesses of the Seller in the Chinese Mainland, Hong Kong, and Macau. The portfolio of international brand licenses includes Disney (Mickey and Winnie the Pooh), Elle, and Sesame Street.

Mr. Jason Rabin, President of LF Asia in charge of Hard & Soft Goods, said, “This acquisition dramatically strengthens LF Asia's brands and licensing portfolio.” He added, “Leveraging the global presence of Li & Fung in all areas, from design and licensing to sourcing and logistics, this will enable LF Asia to expand its business into new markets and product categories, including the children's marketplace in China.”

Mr. Bruce Rockowitz, Group President and CEO of Li & Fung Limited, said, “We are very pleased with this first acquisition for LF Asia as it represents a significant stride we have made in achieving our goal of expanding the Distribution business." He continued, “This is a very strong platform. Not only does it help LF Asia further penetrate the great potential of the Chinese market, but also shows that Li & Fung is a unique company able to take brands from the U.S. and Europe and distribute them all over the world.”

In addition, Li & Fung has announced that LF Asia has entered into an agreement with LiFung Kids (Holdings) Limited, a subsidiary of Li & Fung (1937) Limited, to divest the apparel retailing business acquired from The Roly Group to LiFung Kids at the initial consideration of approximately US$17.8 million, subject to upward or downward adjustment with reference to the Net Tangible Assets, provided that the total consideration will not exceed US$26.7 million. Details of the agreement are available on the announcement posted on the Hong Kong Stock Exchange's website.

Li & Fung Limited, the Hong Kong-headquartered multinational group, is recognized as the world's leader in consumer goods design, development, sourcing and distribution.

Li & Fung Limited


Must ReadView All

Textiles | On 21st Aug 2017

GST payment & filing for July extended till Aug 25

The GST Implementation Committee, consisting of state and Central...

Textiles | On 21st Aug 2017

India’s cotton production may grow by 3.76% in 2016-17

India’s cotton production is likely to rise by 3.76 per cent to 345...

Textiles | On 21st Aug 2017

Telangana announces sops for textile, apparel sector

The Telangana government recently announced a string of incentives,...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
67.7%
No
16.1%
Skip
16.1%

Total Votes: 31

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
45.2%
No
35.5%
Skip
19.4%

Total Votes: 31

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.9%
No
6.5%
Skip
9.7%

Total Votes: 31

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
61.3%
No
9.7%
Skip
29.0%

Total Votes: 31


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search