Home / Knowledge / News / Apparel/Garments / Li & Fung enters into new sourcing deal with Wal-Mart
Li & Fung enters into new sourcing deal with Wal-Mart
21
Sep '12
Reference is made to the announcement of Li & Fung Limited dated 28 January 2010 in relation to the sourcing arrangements with the Wal-Mart Group.  Capitalized terms used herein shall have the same meanings as those defined in the Previous Announcement unless the context requires otherwise.

The board of directors of the Company announces that on 20 September 2012, the Company and its wholly-owned subsidiary, Direct Sourcing Group Pte. Ltd. (DSG) entered into a new agency agreement with Wal-Mart Stores, Inc. that supersedes the previous buying agency agreements made on 28 January 2010. 

At the same time, the Option Agreement pursuant to which Wal-Mart Stores, Inc. had the option exercisable on or after 1 January 2016 to purchase all of the shares of DSG was terminated.

Under the new agency agreement and related agreements, DSG will continue as the primary direct resource for Sam’s Club in the United States and will continue to provide buying agency services to Walmart U.S. and certain Walmart International markets on a category-specific basis on terms similar to those under the previous buying agency agreements.

The new agency agreement will continue for a period of five years with an option to extend for an additional two years upon written mutual consent.

Li & Fung Limited


Must ReadView All

Courtesy: Sympatex Technologies

Textiles | On 23rd Feb 2018

Sympatex, Ricosta jointly move towards sustainability

Sympatex Technologies is moving towards sustainability with its...

Courtesy: Business wire

Information Technology | On 23rd Feb 2018

CLO Virtual Fashion launches CLO 4.0 & new website

CLO Virtual Fashion, a leading developer of cutting-edge 3D garment...

Courtesy: Delta Galil

Apparel/Garments | On 23rd Feb 2018

Delta Galil 2017 sales up 16% to $1,368.1 million

Delta Galil sales for full year 2017 increased 16 per cent to...

Interviews View All

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Urmil Arya

Sushila International, a well established textile organisation established ...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

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

February 2018

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
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

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
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

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
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

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
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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