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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.
Initial orders under the agreement are expected to commence shortly. (RKS)
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