Home / Knowledge / News / Apparel/Garments / Li & Fung to setup dedicated vendor support services unit
Li & Fung to setup dedicated vendor support services unit
06
Jan '14
After a solid finish to 2013 which is in line with our previous announcements of operating financial performance returning to 2011 levels, Li & Fung Limited (“the Company” or “Li & Fung”) is currently focusing on finalizing the next Three-Year Plan (“3YP”) (2014 – 2106) to be announced in March 2014. 
 
As one of the new initiatives in the next 3YP, the Company is establishing a dedicated Vendor Support Services business unit to enhance factory and worker safety, raise standards and improve operational efficiencies in its global supply chain. 
 
The Vendor Support Services business, including vendor compliance, will be led by Group Chairman Dr. William Fung Kwok Lun, and this new initiative will be expanded as an integral part of Li & Fung’s new 3YP. 
 
The new unit will incorporate the Company’s existing range of vendor support services to factories plus new offerings that include product testing, provision of logistics support to factories, and other practical input to enable factories to move up the value chain. Presently, the Company’s vendor support services include safety and compliance training and audits, trade credit services as well as the handling of letters of credit, product liability insurance, fabric, trims and accessories procurement, product development and technical and operations support. 
 
The Company will continue to ensure that the provision of such vendor support services conforms with the agreements on provision of services to the Company’s customers. 
 
While revenue generated from Vendor Support Services is a small part of the Company’s total revenue, the Company views this new initiative as a key ingredient of its enhanced business offering in its new 3YP. 
 
Click here to read more.
 
 

Li & Fung

Must ReadView All

Textiles | On 26th Apr 2017

Kering's consolidated revenue growth rises 31.2% in Q1

The consolidated revenue growth for luxury group Kering for the first ...

Courtesy: SKF

Textiles | On 26th Apr 2017

SKF brings predictive maintenance for machinery to India

SKF India, a global supplier of bearings, seals, mechatronics,...

Textiles | On 26th Apr 2017

CITA to add insufficiently available fabric in CAFTA-DR

The Committee for the Implementation of Textile Agreements (CITA) has ...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Kerem Durdag
Biovation II LLC

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

Giorgio Mantovani
Corman S.p.A

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Igor Chapurin
Chapurin

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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