Li & Fung
Li & Fung Limited. (Chinese利丰, Pinyin Li Feng ) is one of the largest trading houses in the world. The group of companies based in Hong Kong is listed on the London Stock Exchange in the Hang Seng Commercial & Industrial Index.
Li & Fung specializes in large quantities and time- sensitive goods. A large part of the business makes the trade with clothing. In addition, hard goods are traded, such as fashion accessories, furnishings, gifts, handmade goods, toys and sporting goods, merchandise and travel needs.
The company is a manufacturer and transnational supply chain manager, offering a complete package of value-added services beyond the mere supply addition, from product design and development to quality assurance to the handling of cargo and other things.
The company was founded in 1906 in Guangzhou (Canton) by Fung Pakliu and Li To -ming as porcelain and antique trade and is the third generation of today by brothers William Fung ( managing director ) and Victor Fung ( chairman ) out. With an estimated 1,5 billion personal fortune, they are listed in the list of billionaires by Forbes Magazine in 2006 ranked 512.
Li & Fung is represented with 66 offices in over 40 countries of production. At 47 %, the company buys its merchandise in the People's Republic of China. The production sites are focused on cost grounds in Asia, where Li & Fung itself has no production capacity, but places orders with delivery dates in job shop. In order to be closer to the European and American customers and identify and meet their market needs faster, Li & Fung expanded in recent years in the Mediterranean region, Eastern Europe and Central America.
Li & Fung Limited. part of the Li & Fung Group, which also includes private retail and distribution companies belong. With annual revenues of about 7 billion dollars and 18,000 employees among Li & Fung of the largest trading houses in the world, is ( in the wake of outsourcing and offshoring ), for example sourcing partners of sporting goods company Reebok and Nike, the toy company, Toys R Us, as well as many international department store groups, including the clothing company Esprit, Abercrombie & Fitch, Debenhams, Next, Limited Brands and Marks & Spencer, as well as the retail companies Wal-Mart, Metro, Sainsbury's, Carrefour, Ahold and Bed Bath & Beyond. 3.7% of clothing imports of the USA are handled by Li & Fung. For the Walt Disney Group, Li & Fung organized the production of all merchandise its theme parks. Even Coca -Cola is the company's customer merchandising.
2006 Li & Fung has been transferred as part of the consolidation of the Karstadt Quelle Group key imported services of belonging to the Group brands Karstadt, Quelle, neckermann.de and another belonging to the group of special mail, instead of the previous resident in Germany import houses. A purchase price reduction of 10 % and an import volume of over 2 billion euro per year is envisaged. In the future, be possible by Li & Fung at Karstadt source up to twelve collections a year. In addition, the necessary operating capital for Karstadt Quelle will be, according to Karstadt Quelle reduce by half a billion euros, as Li & Fung to suppliers possess a longer payment term as it had been Karstadt Quelle. The previous Shopping subsidiary Karstadt Quelle International Services AG ( KQIS; St. Gallen) was, together with 1,100 employees for 60 million euros to the Li & Fung Limited. sold. Li & Fung acquires particular the screening and quality control of manufactured goods on the spot rewarding and wraps future payments of worldwide import business of Karstadt source. However, the designs for the own brand collections to remain by building its own design center in Asia directly in the hands of Karstadt Quelle, as well as the terms and conditions negotiations with individual suppliers.
At Li & Fung since 2006 also includes the previously counted for Diehl Group Fireworks Comet in Bremerhaven.