British multinational retailer Debenhams Plc has entered into an agreement with Li & Fung, the world's leading supply chain solutions partner for consumer brands and retailers, to develop a strategic sourcing partnership. The agreement is part of Debenhams Redesigned strategy aimed at making operational improvements to support business turnaround.
The agreement is expected to cover a material part of Debenhams own-brand sourcing over time and will deliver benefits for both its customers and stakeholders, through improved product quality and lead-times; higher achieved margins; and better working capital efficiency, the company said in a regulatory filing with the London Stock Exchange.
“The partnership agreement with Li & Fung will be a key part of our turnaround plan. It gives us access to state-of-the-art technology in the LF Digital platform, providing end-to-end visibility across our supply chain. This will help us anticipate and respond more quickly to trends and our customers’ preferences, as well as delivering better quality product,” said Debenhams CEO Sergio Bucher.
British multinational retailer Debenhams Plc has entered into an agreement with Li & Fung, the world's leading supply chain solutions partner for consumer brands and retailers, to develop a strategic sourcing partnership. The agreement is part of Debenhams Redesigned strategy aimed at making operational improvements to support business turnaround.#
Initial orders under the agreement are expected to commence shortly. (RKS)
Fibre2Fashion News Desk – India
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