upcoming events

Nov 2018
1 2 3 4 5 6 7
SEAMLESS VIETNAM 2018
Wed - 7/11/2018
Status: Active
8 9 10 11 12 13 14 15 16 17 18 19 20 21 22
VIETNAM SUPPLY CHAIN OUTLOOK 2019
Thu - 22/11/2018
Status: Active
23 24 25 26 27 28 29 30

Survey

1. What do you consider the largest Risk for your company?

2. What are the Risk Mitigation Strategies you apply?

Submit

Galleries

This event is open for all professionals interested or currently working in Starups in Hanoi, or supply chai professionals in Hanoi, or who are interested in looking for business collaboration for U.S. market through meeting with a delegation of Baylor University (U.S.), Executive Master Program.

CAREER OPPORTUNITIES

FAR EAST PLANNING MANAGER - WAHL VIETNAM CO.,LTD

Manage business relationship with co-workers, stakeholders, suppliers and customers

PROCESS DELEGATE SPECIALIST - BOSCH VN

The Bosch Group is a leading global supplier of technology and services, in the areas of automotive and industrial technology, consumer goods as well as building technology. 

LOGISTICS OPERATIONS COORDINATOR - CEL CONSULTING
A firm specialized in Demand and Supply Management in Emerging Markets: We create an impact where it's most needed

SOURCING GROUP LI & FUNG TO SELL OFF THREE BUSINESS VERTICALS FOR $1.1BN

2018-07-10 18:08:54

Share with friends

SOURCING GROUP LI & FUNG TO SELL OFF THREE BUSINESS VERTICALS FOR $1.1BN

 

 

Hong Kong sourcing group Li & Fung is selling off three of its business verticals to Hony Capital and the Fung Group for around $1.1bn.

The deal will see the business, which helps the likes of Walmart source products across their supply chains, sell of its off its sweater, furniture and beauty products businesses.

The product verticals were created in 2015 to consolidate some of the trading businesses of Li & Fung in specific product areas of furniture, sweaters and beauty.

The group said that further growth in these product categories necessitates expansion upstream and downstream, requiring capital investment and management attention, which the company believes is best achieved outside of Li & Fung and its present strategic direction.

This transaction continues Li & Fung’s strategy of simplifying its overall business and allows its senior management team to focus resources on its ‘Three-Year Plan’ goal of creating the supply chain of the future to enable Li & Fung to deliver long-term shareholder value as it transforms into a digital company.

Spencer Fung, Group CEO of Li & Fung, said: “The strategic divestment of the product verticals allows Li & Fung to focus on its core competencies and further strengthens our capital structure.

“The $1.1bn proceeds will allow us to pay a generous dividend to our shareholders and the remaining $580mn of cash will give us more financial flexibility as we continue to execute our Three-Year Plan goal of building an end-to-end digital supply chain.

“Our 1H results were solid and our customers and vendor partners are responding very positively to our new digital solutions. We are very excited to be creating a future supply chain that does not yet exist in the market.”