Home / Knowledge / News / Company / Marginal impact of Bangladesh factory fire on Li & Fung
Marginal impact of Bangladesh factory fire on Li & Fung
27
Nov '12
In response to queries received from analysts, Li & Fung Limited wishes to clarify that the value of orders placed with Tazreen Fashions Limited in Bangladesh where a tragic fire has occurred will not have any material impact on the financial performance of Li & Fung.

The total value of orders placed for the year with Tazreen on behalf of Kids Headquarters, a division of LF USA amounted to approximately US$111,000. Li & Fung also confirms that the Company has not placed orders for other customers with Tazreen.

The Company issued the following statement: “Li & Fung is very distressed and saddened by the deaths of workers and wish to express our deepest condolences to the families of the victims. Li & Fung is participating in aid efforts for immediate relief and is matching the Bangladesh Garment Manufacturers and Exporters Association’s financial assistance by pledging 100,000 Bangladeshi Takas (approximately US$1,200) to each family of every victim.

“Furthermore, through the Fung Foundation, a fund will be set up for the education of the victim’s children. The Company is in contact with the owner of the factory and it will be carrying out its own investigation into the circumstances which led to the fire.”

Li & Fung Limited


Must ReadView All

Charge 1p per garment to tackle fast fashion: British MPs

Apparel/Garments | On 21st Feb 2019

Charge 1p per garment to tackle fast fashion: British MPs

A panel of British parliament members cutting across party lines...

Chinese textile city to harm Egypt's domestic industry

Textiles | On 21st Feb 2019

Chinese textile city to harm Egypt's domestic industry

Setting up of a Chinese textile city in Egypt will severely harm the...

Pakistan's textile exports up 1.19% in July-Jan FY19

Textiles | On 21st Feb 2019

Pakistan's textile exports up 1.19% in July-Jan FY19

The value of textile and garment exports from Pakistan increased by...

Interviews View All

Awen Delaval, Samatoa

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Milind Khandwe, Hindoostan Innovation Centre

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Sanjay Yagnik, Maa Tex Speciality

Sanjay Yagnik
Maa Tex Speciality

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

Karan Behal,

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Will Qian,

Will Qian

Honghua Digital Technology Stock Co., Ltd. specialises in the R&D,...

Rikesh Mistry,

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Kai Poehler, Voith Paper GmbH & Co. KG

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Alfonso Marra, Klopman

Alfonso Marra
Klopman

It was in 1968 that Klopman introduced the concept of poly/cotton workwear ...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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

Leave your Comments


February 2019

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

news category


Related Categories:

Advanced Search