Research and Markets: Li & Fung Will Source Less Apparel from China and More from Bangladesh and Other Asian Countries

DUBLIN--(Business Wire)--
Research and Markets
(http://www.researchandmarkets.com/research/45e09e/li_fung_will_sou) has
announced the addition of Textiles Intelligence's new report "Li & Fung Will
Source Less Apparel from China and More from Bangladesh and Other Asian
Countries" to their offering.

Li & Fung, a major sourcing group based in Hong Kong, plans to shift some of its
apparel sourcing away from China and increase it in other Asian countries.

News of this proposed shift came from Li & Fung's managing director, William
Fung, when he announced that the group had achieved a record core operating
profit of HK$3,990 mn (US$515 mn) 2009, 29% more than in the previous year.

The record profit was achieved despite a 6% drop in turnover, to HK$104,479 mn,
reflecting sluggish markets, a number of customer insolvencies, and the tactic
of many other customers to maintain tight inventory levels.

The group has over 80 offices in the USA, Europe, Africa and Asia, and it
sources from more than 40 economies. In 2009 it strengthened its sourcing
capabilities in Europe, the Middle East, North Africa and the former Soviet
Union by opening a new 7,100 m2 European hub operation in Istanbul, Turkey.

Key Topics Covered:

Li & Fung Will Source Less Apparel from China and More from Bangladesh and Other
Asian Countries

List of tables Table 1: Li & Fung: trends in sourcing by country of origin, by
volume, 2009

For more information visit
http://www.researchandmarkets.com/research/45e09e/li_fung_will_sou

Research and Markets
Laura Wood, Senior Manager,
press@researchandmarkets.com
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

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