Home / Knowledge / News / Apparel/Garments / CIT expands factoring relationship with LF USA
CIT expands factoring relationship with LF USA
30
Mar '10
CIT Group Inc a leading provider of financing to small businesses and middle market companies, announced that it has expanded its factoring relationship with LF USA Inc, a subsidiary of Li & Fung, the world's leading consumer goods supply chain management company.

The expanded relationship now includes LF USA's Wear Me Apparel, LLC, which conducts business as Kids Headquarters, a leading designer, marketer, and seller of young men's and children's apparel in the U.S. It is expected that the new relationship will provide an estimated $700 million in additional annual factored volume for CIT Trade Finance.

“LF USA has been an important client of CIT's for more than six years,” said John Daly, President of CIT Trade Finance. “Our ability to maintain a leadership position in U.S. factoring is evidenced through our deep industry expertise, tailored client service, and longstanding relationships within the retail sector. LF USA is also an industry leader and we're pleased to build upon this relationship.”

Rick Darling, President of LF USA, said, “We've had a longstanding relationship with CIT, so when we acquired Kids Headquarters, it was natural that we would move the factoring business to CIT. We know first-hand the level of service and expertise that CIT offers and the expansion of our relationship reflects our confidence in the services they provide.”

Kids Headquarters manages a prominent portfolio of licensed national brands, proprietary brands, private labels, and character licenses. These include Calvin Klein, Ecko, Timberland, Hurley, Rocawear, US Polo Association, Disney, Marvel, Nickelodeon, Warner Brothers, and Hasbro. The Company's brands are distributed through traditional and mid-tier department stores and mass merchants.

CIT Group Inc

Must ReadView All

Apparel/Garments | On 23rd Feb 2017

NAFTA renegotiation puts Mexico-US jeans trade at risk

The almost imminent renegotiation of the North America Free Trade...

Rick Helfenbein (left), president and CEO of AAFA, with Juan Estrada, chief of party, Hub; Courtesy: Hub

Apparel/Garments | On 23rd Feb 2017

AAFA inks agreement for best manufacturing in East Africa

The American Apparel & Footwear Association (AAFA) has entered into a ...

Mango vice-chairman and member of the board of directors Daniel Lopez (L) with Ananth Narayanan, CEO, Myntra & Jabong. Courtesy: Myntra

Apparel/Garments | On 23rd Feb 2017

Mango awards distribution & management rights to Myntra

Mango, the Spanish fast fashion brand, has awarded its master...

Interviews View All

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Urs Stalder
Sanitized AG

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

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

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...

Madhu Jain
Madhu Jain

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

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 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search