Li & Fung (利豐 有限公司) is one of the largest trading companies in the world, based in Hong Kong . Belongs to brothers Victor and William Fung (Feng), as well as Singaporean investment group Temasek Holdings [2] .
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Content
History
The company was founded in 1906 in Canton by Li Daoming and Feng Bailao. In 1937, Feng Baileao's third son, Feng Hanzhu, opened a branch in Hong Kong. In 1943, after the death of Feng Bailao, management of the company passed to the representatives of the second generation of the Feng family (despite the retirement of Li Daoming, they did not change the name of the company). In 1970, representatives of the third generation of the Feng family, Victor Fung Kwok-king and William Fung Kwok Lun, who studied in the USA, became the managing company. By 1998, not directly owning production facilities, Li & Fung managed more than 7.5 thousand independent producers. By 2010, the company purchased about half of the goods in China, and about 4% of all imported clothing came to the United States through Li & Fung. As of March 2011, 13,000 people were employed at Li & Fung, the market value of the corporation was almost $ 23 billion, and sales were almost $ 13.5 billion.
In early 2012, a subsidiary of the Fung Brands Limited group bought the famous French fashion house Sonia Rykiel [3] .
Structure
Through 70 offices in 40 countries, Li & Fung is engaged in logistics and distribution of clothing, accessories, gift, advertising and souvenir products, toys, goods for sports, travel, beauty and health, household items and furniture. In addition, when ordering goods, the company, at the request of the client, takes upon itself the development of design, the supply of raw materials and components, and the control of production and quality.
Among the main customers of Li & Fung are Reebok , Nike , Esprit , Walt Disney , Coca-Cola , Marks & Spencer , Wal-Mart , Metro , Carrefour , Ahold , Karstadt .
See also
- The largest companies in Hong Kong
- List of richest people in Hong Kong
- Forbes Global 2000
Notes
- ↑ https://www.hkex.com.hk/eng/invest/company/profile_page_e.asp?WidCoID=0494&WidCoAbbName=&Month=&langcode=e
- ↑ Li & Fung . Forbes Date of treatment April 5, 2014.
- ↑ The crisis drove Sonia Rykiel to China . Publishing house "Economics" (January 31, 2012). Date of treatment November 18, 2012. Archived November 23, 2012.