Home / Knowledge / News / Apparel/Garments / Li & Fung acquires apparel supplier Visage
Li & Fung acquires apparel supplier Visage
Feb '10
Hong Kong-based global consumer goods exporter Li & Fung Limited announced that its wholly owned subsidiary has acquired the entire issued share capital of Visage Group Limited. Visage is a leading private-label apparel supplier to leading high street and mass retailers in the UK.

The initial purchase consideration is approximately £57.5 million (HK$690 million) plus a performance-based sum of up to £115.5 million (HK$1,386 million). The total consideration will not exceed £173 million (HK$2,076 million). The purchase consideration will be satisfied in cash and loan notes, financed by Li & Fung's internal cash reserves.

Completion of the acquisition took place immediately after signing of the Agreement.

Visage Group has strong expertise and capabilities in design and product development for men's, ladies' and children's wear. Its head office is in Manchester, UK, and it has overseas branch offices located in Hong Kong, Shanghai, Guangzhou, Dhaka and Delhi.

Based on audited accounts (after adjustments for non-recurring items), Visage Group Limited's profits before and after tax and extraordinary items for the year ended 31 January 2009 were approximately £19.4 million (HK$233 million) and £14.0 million (HK$168 million) respectively. The sales for the year were £186 million (HK$2,228 million).

Mr. Bruce Rockowitz, President of Li & Fung (Trading) Company, said, “This acquisition dramatically strengthens LF Europe's growth platform. It will add substantial scale to our existing operation and further our objective of developing a significant European onshore presence. Furthermore, the acquisition will generate business with the majority of leading UK retailers, thus increasing our overall market share and providing an excellent platform for future growth.”

Mr. Rockowitz continued, “At the beginning of this current Three-Year Plan, we set goals of expanding our US onshore business as well as building our European onshore and beauty businesses. So far we have experienced great success in meeting these objectives by making several acquisitions in the US—including Van Zeeland and Wear Me Apparel—and now we have acquired Visage to expand in Europe. We will continue to pursue our acquisition strategy, and the pipeline of potential deals is still strong.”

Li & Fung Limited

Must ReadView All

Textiles | On 22nd Jun 2017

Zund unveils cradle feeder roll-feed system for fabrics

Zund Systemtechnik AG, Switzerland’s textile machinery firm that...

Textiles | On 22nd Jun 2017

Hpfabrics opening production facility in Forsyth County

Hpfabrics, manufacturer of raw fabrics, is opening a new production...

Courtesy: Napapijri

Apparel/Garments | On 22nd Jun 2017

Napapijri's Superlight Parka is free of fur and down

Napapijri has introduced the new Superlight Parka, a new lightweight...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala

Moving towards sustainability is also a social change

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Steve Cole
Xerium Technologies

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

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Ashok Desai
Bombay Textile Research Association

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

Igor Chapurin

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

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Judy Frater
Somaiya Kala Vidya

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

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
June 2017

June 2017

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


Browse Our Archives


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