Home / Knowledge / News / Apparel/Garments / Li & Fung to source for Li Ning brand
Li & Fung to source for Li Ning brand
Nov '10
Hong Kong-based multinational Li & Fung Limited, the global consumer goods exporter, announced it will become a sourcing agent for Li Ning Company Limited's brands in both international and domestic market.

The agreement will cover sourcing for a certain range of brands in both international and domestic China market, including soft goods for Li Ning's popular running, basketball and lifestyle lines.

Mr. Bruce Rockowitz, President of Li & Fung (Trading) Limited, said, “We are very pleased to source for many of Li Ning's highly popular sports brands in China. Clearly, China has already become a huge consumer market that continues to expand and offer tremendous opportunities. This represents not only another world-class addition to Li & Fung's existing customer base, but also a significant step forward in our growth strategy for the LF Asia platform."

Li & Fung also announced the election results for the cancellation consideration of its acquisition of Integrated Distribution Services Group Limited (“IDS”).

Elections had been made by the Scheme Shareholders for the Share Alternative in respect of a total of 334,563,107 Scheme Shares, representing 99.02% of the total number of Scheme Shares. The other Scheme Shareholders, holding a total of 3,315,493 IDS Shares and representing 0.98% of the total number of Scheme Shares, will receive the Cash Alternative.

Mr. Rockowitz said, “We are very pleased with the vote of confidence as shareholders of 99.02% of IDS shares have elected to take up Li & Fung shares.”

A total of 195,719,417 new shares, representing 5.12% of the total issued shares of Li & Fung as at November 3, 2010, will be allotted and issued in satisfaction of the Share Alternative. The total amount of cash consideration to be paid by Li & Fung to the Scheme Shareholders who have elected for the Cash Alternative is approximately HK$69,625,353.

With the result of the election clear, Mr. Rockowitz added, "With substantial cash reserves even after the IDS acquisition we will be able to take full advantage of any opportunities that may arise."

Li & Fung Limited

Must ReadView All

Courtesy: UPM Raflatac

Apparel/Garments | On 17th Jan 2017

New residue free textile label adhesive from UPM Raflatac

Producer of self adhesive label materials UPM Raflatac, has...

Courtesy: Authentic Brands Group

Apparel/Garments | On 17th Jan 2017

Teen retailer Aéropostale reopens 500 stores in US

Teen apparel retailer Aéropostale has reopened 500 stores in the US,...

Courtesy: Centric Software

Information Technology | On 17th Jan 2017

Centric releases version 6.0 of PLM solution

Centric Software, the leading PLM solution for fashion, retail,...

Interviews View All

Evelyne Cholet

‘France had a reputation of being big in new ideas, but poor in marketing...

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

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...

Lynda Kelly
Suominen Corporation

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

Tony Ward
Tony Ward

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

Judy Frater
Somaiya Kala Vidya

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

Igor Chapurin

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

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

January 2017

January 2017

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


Browse Our Archives


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