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

Apparel/Garments | On 28th Sep 2016

CMAI inks MoU with Chinese textile trade body CCCT

Indian apex clothing association, the Clothing Manufacturers...

Textiles | On 28th Sep 2016

India sees largest gain on WEF’s Competitiveness Index

India has shown the largest gain made by any country on the World...

Textiles | On 28th Sep 2016

Oerlikon to show new yarns and fibres at ITMA+CITME expo

The Oerlikon Manmade Fibers segment, the world market leader for...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

Pratik Bachkaniwala
Palod Himson Machines

Johan Berlin
InvestKonsult Sweden AB

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

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Igor Chapurin
Chapurin

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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
September 2016

September 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search