Li & Fung http://grupera929.com Tue, 21 Jan 2020 10:10:35 +0000 en-US hourly 1 http://wordpress.org/?v=4.9.4 Li & Fung http://grupera929.com/press-release/li-fung-first-insight-announce-global-strategic-partnership-integrate-voice-customer-analytics-li-fungs-digital-supply-chain-solutions/ Fri, 13 Dec 2019 04:07:19 +0000 http://cmswwwadmin.grupera929.com/?post_type=cpt-press-release&p=5489 Industry-leading digital pre-season consumer testing to increase product success rates and reduce markdowns for brands and retailers Li & Fung Limited (“Li & Fungâ€? SEHK: 494), the world’s leading consumer goods supply chain solutions partner, and First Insight, Inc., the technology company transforming how brands make product investment, pricing and marketing decisions, today announced a strategic … Continued

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Industry-leading digital pre-season consumer testing to increase product success rates and reduce markdowns for brands and retailers

Li & Fung Limited (“Li & Fung� SEHK: 494), the world’s leading consumer goods supply chain solutions partner, and First Insight, Inc., the technology company transforming how brands make product investment, pricing and marketing decisions, today announced a strategic agreement. The partnership will integrate First Insight’s Voice of the Customer analytics into Li & Fung’s Digital Product Development solution, enabling brands and retailers to select, price and buy designs with greater confidence, increasing sell through and reducing mark downs.

As part of its vision to create the Supply Chain of the Future, Li & Fung is developing a fully-integrated digital supply chain platform that connects brands and retailers with suppliers and other partners seamlessly with end-to-end data capture and visibility. Its industry-leading 3D virtual design services are disrupting traditional product development. From design, blocks and patterns, product development and fitting, to digital catalogs, and 3D retail and visual merchandising, Li & Fung is replacing physical with digital. Now with First Insight’s digital consumer testing it can review consumer insights making informed changes early in the product development phase �helping brands make decisions smarter and faster.

First Insight created the first digital product testing solution in 2007, enabling brands and retailers to combine the voice of their customers with advanced AI and predictive analytics to improve the performance of, and reduce the risk associated with, new products. Predictive feedback from customers can be delivered in 24-48 hours, helping hundreds of brands and retailers to bring the right products to market, at the right price and in the right quantities, improving sell-through and reducing waste.

The Li & Fung-First Insight partnership will deliver an end-to-end digital product development solution, from the initial design concept to the finished product. Benefits to brands and retailers include:

多多棋牌– Higher confidence in selecting designs that consumers want, at the prices they will pay

– Higher responsiveness in their value chain â€?demand driven, rather than supply driven

多多棋牌– Faster speed-to-market

– Specific design feedback by region, retailer and customer demographic

多多棋牌– Reduced markdowns; increased sell-throughs and margins

– Reduced cost in physical samples, reduced fabric wastage and airfreight

多多棋牌– Improved sustainability for the business and environmental footprint

“At Li & Fung we help brands and retailers digitize design and bring the right products to market quickly and efficiently,�said Spencer Fung, Group CEO of Li & Fung. “We have been investing in our Digital Product Development services for the past three years, bringing together technologies that support our goal of creating the Supply Chain of the Future. First Insight brings the leading digital consumer product testing solution and we are using it to complement our digital services and help our customers improve sales and margins.�/p>

“For the last 12 years, First Insight has been helping hundreds of retailers and brands use voice-of-the-customer data and predictive analytics to improve their operations �from product design to buying to pricing,�said Greg Petro, CEO of First Insight. “Li & Fung is the unquestioned global leader in sourcing and delivering innovative digital supply chain solutions to the retail industry. The combination of our solutions creates a global supply chain that is fast, accurate and efficient. We are excited to be partnering with Li & Fung for the benefit of retailers and brands throughout the world.�/p>

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Li & Fung http://grupera929.com/press-release/li-fung-signs-nike-ocean-conservancy-arctic-shipping-pledge-prevent-harmful-shipments-arctic-waters/ Tue, 29 Oct 2019 03:34:25 +0000 http://cmswwwadmin.grupera929.com/?post_type=cpt-press-release&p=5436 Li & Fung Limited (“Li & Fung,â€?“the Group,â€?or “the Company;â€?SEHK: 494), the world’s leading supply chain solutions partner for consumer brands and retailers, announced that LF Logistics, the Company’s logistics business, has signed a pledge to support an initiative launched by its customer, Nike, and Ocean Conservancy to prohibit shipping through the … Continued

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多多棋牌Li & Fung Limited (“Li & Fung,â€?“the Group,â€?or “the Company;â€?SEHK: 494), the world’s leading supply chain solutions partner for consumer brands and retailers, announced that LF Logistics, the Company’s logistics business, has signed a pledge to support an initiative launched by its customer, Nike, and Ocean Conservancy to prohibit shipping through the Arctic Ocean. Although LF Logistics does not use any Arctic sea routes, the commitment to this initiative means that it and all the other signatories will take shared responsibility for preserving the Arctic.

多多棋牌The rapid reduction of Arctic sea ice caused by climate change could possibly increase cargo transportation through Arctic sea routes that were previously unnavigable, offering shorter transit times compared to traditional routes. This raises major environmental risks to marine life as well as the human population that relies on a healthy Arctic ecosystem for its livelihood.

“We are proud to support Nike’s leading role in this pledge which will help prevent harmful trans Arctic shipments. Li & Fung is committed to operating supply chains in a responsible and sustainable manner. We strongly believe in the power of collaboration on urgent action which will bring about a change in the industry and protect the fragile Arctic ecosystem,�said Joseph Phi, Group President, Li & Fung.

“Our support to Nike and Ocean Conservancy is critical to the future of this already fragile region. The severe impact of climate change on the Arctic ecosystem is apparent, as evidenced by the rapid reduction in sea ice. The possibility of increased shipping will have catastrophic effects on our ocean,�said Harsh Saini, Executive Vice President, Sustainability and Government and Public Affairs, Fung Group.

In August 2019, Fung Group announced its commitment to the Fashion Pact, a coalition of more than 30 global fashion and textile companies pledging to reduce the environmental impact of the fashion industry. Presented at the G7 summit by French President Emmanuel Macron, the Fashion Pact focuses on three areas: stopping global warming, restoring biodiversity and protecting the oceans. The objectives of Nike and Ocean Conservancy’s Arctic Shipping Pledge closely align with the Fashion Pact, as well as Li & Fung’s principles of pollution prevention and the implementation of environmental responsibility programs into its operations and supply chains.

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Li & Fung http://grupera929.com/press-release/li-fung-completes-bond-tender-offer-issues-new-us400-million-bond-strengthen-capital-structure/ Tue, 08 Oct 2019 02:50:01 +0000 http://cmswwwadmin.grupera929.com/?post_type=cpt-press-release&p=5427 This is an important step aimed at deleveraging the Company’s balance sheet and providing higher financial flexibility for its upcoming Three-Year Plan (2020 �2022).

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Li & Fung Limited (“Li & Fung,�“the Group,�or “the Company;�SEHK: 494), the world’s leading supply chain solutions partner for consumer brands and retailers, announced the successful completion of a simultaneous bond tender offer and new bond offering.

The simultaneous measures allow the Company to reduce its interest expense and further optimize its capital structure by extending its debt maturing profile. The new issuance is for a US$400 million five-year medium-term notes at a 4.375% interest rate. The bond tender offer resulted in a buyback of US$375.8 million, representing 50.1%, of its outstanding US$750 million bond that is maturing in May 2020. This is an important step aimed at deleveraging the Company’s balance sheet and providing higher financial flexibility for its upcoming Three-Year Plan (2020 �2022). The Company continues to maintain its investment grade credit rating at BBB (Standard & Poor’s) and Baa3 (Moody’s) both with Stable Outlook.

Ed Lam, CFO of Li & Fung, said “Coupled with our solid capital structure, the bond tender and offering allow us to actively extend maturity in financing our debt and manage our balance sheet. Together with Temasek’s US$300 million investment in our Logistics business in June this year, we are in a very strong cash position with low gearing ratio and sound financial footing.�/p>

Spencer Fung, Group CEO of Li & Fung, said “We have made significant progress in our current Three-Year Plan and are winning market share and new customers due to our operational excellence, global diversified network and 3D virtual design services. Our capital structure gives us a solid foundation for our new Three-Year Plan. It allows us to seize market opportunities amid global trade disputes and to accelerate our transformation as we create the Supply Chain of the Future for the benefit of our customers and our industry.�/p>

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Li & Fung http://grupera929.com/press-release/li-fung-announces-2019-interim-results/ Thu, 22 Aug 2019 09:45:51 +0000 http://cmswwwadmin.grupera929.com/?post_type=cpt-press-release&p=5353 Temasek’s US$300M investment in LF Logistics at US$1.4B valuation to accelerate the growth of our logistics business and strengthen capital structure of the Group Group turnover declined 8.4% but stabilizing as a result of improvement in operations and customer engagement Core Operating Profit at US$105M; Net profit swung back to positive Restructured global sourcing network … Continued

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  • Temasek’s US$300M investment in LF Logistics at US$1.4B valuation to accelerate the growth of our logistics business and strengthen capital structure of the Group
  • Group turnover declined 8.4% but stabilizing as a result of improvement in operations and customer engagement
  • Core Operating Profit at US$105M; Net profit swung back to positive
  • Restructured global sourcing network enabling prompt action to minimize tariffs and business development focus yielding solid customer wins
  • 3D virtual design disrupting traditional supply chain and starting to generate revenue
  • Complex global trading environment presents the biggest opportunity for Li & Fung’s business model in 20 years
  • Li & Fung Limited (“Li & Fungâ€? “the Groupâ€?or “the Companyâ€? SEHK: 494), the world’s leading supply chain solutions partner for brands and retailers, today announced its interim results for the six months ended 30 June 2019.

    On a like-for-like basis, turnover decreased 8.4% to US$5,356 million mainly due to ongoing destocking, customer turnover and customer bankruptcies as brands and retailers continued to face pressure on sales and margins. These factors were offset by increased market share for certain key customers and new customer wins. Core operating profit (“COP� decreased 18.6% to US$105 million due to a decrease in turnover and total margin in the Supply Chain Solutions business, and continued investment in digitalization in line with the Company’s long-term plan. With management’s clear focus on operational and customer KPIs, Group turnover is showing early signs of stabilization.

    多多棋牌Total margin as a percentage of turnover was 10.9% in the first half of 2019 (2018 Interim: 10.5%). Operating costs decreased 1.4% to US$478 million as gains made from rightsizing the Supply Chain Solutions business and efforts to enhance operating efficiency were offset by digitalization investment and increased operating costs associated with the growth of the Logistics business (“LF Logisticsâ€?. Operating costs of the Onshore Wholesale business decreased by 9.0% due to the Company’s ongoing restructuring efforts, particularly in the United Kingdom. Turnover and COP of the Logistics business increased 3.8% and 6.4% to US$563 million and US$43 million, respectively. On a constant currency basis, COP increased by 10.8%. Profit attributable to shareholders swung back to positive and recorded US$21 million (2018 interim: US$86 million loss) on a reported basis. The Board of Directors declared an interim dividend of 1 HK cent per share (2018 interim: 3 HK cents per share).

    多多棋牌Commenting on the first half results, Spencer Fung, Group CEO of Li & Fung, said, “The new management team has been focused on restructuring the company and all operational KPIs are now improving for both our customers and suppliers. We are starting to gain momentum and winning market share and new customers due to our operational excellence, global diversified network and 3D virtual design services. As a result, turnover decline is stabilizing and beginning to bottom out.”

    The focus of Li & Fung’s new management team on accelerating the Company’s turnaround and digital transformation is already producing positive results. During the period under review, through a thorough review of its customer base and focused customer account management, Li & Fung has driven increased wallet share with certain customers and improved customer satisfaction. On the business development side, the Company’s leadership in digital services, including end-to-end 3D virtual design, and the geographic diversity of its more than 50-economy-strong sourcing network have generated an encouraging momentum of new customer wins.

    The Company’s digitalization transformation has continued to make significant progress. More customers are approaching Li & Fung for digital services and assistance in integrating digital product development into their work processes. With Li & Fung’s help, brands and retailers are taking their own digital leap with digital design and development, digital planning and assortment, and digital selling. By exploring and adopting flexible pricing models, the Company has been able to satisfy specific, individual business needs of its customers and is beginning to gradually ramp up the monetization of the service, which will continue into its next Three-Year Plan (2020 – 2022).

    The Logistics business continued its profitable growth momentum in the first six months of 2019. In-country logistics services had strong top-line and bottom-line double-digit growth. China continued to lead the way, supported by an upsurge of domestic consumption, especially via e-commerce for which LF Logistics enjoyed first-mover advantage due to its early investment in e-logistics. Accelerated development in LF Logistics�ASEAN operations contributed to high growth rates and the new markets of Korea, Japan and India also recorded impressive results. Testament to LF Logistics�speedy business growth momentum and long-term prospects, Temasek completed its US$300 million investment to take a 21.7% stake, which values LF Logistics at approximately US$1.4 billion on a post money basis. The transaction proceeds will be used to further accelerate business growth initiatives and have enhanced the capital structure of the Group.

    Group Chairman William Fung added, “We are facing increasing geo-economic instability and uncertainty. Regardless of other factors, the acceleration of the migration of production out of China will continue given China’s upgrading of its industrial base from a manufacturing exporter to a high-technology service provider. With Li & Fung’s long history, we appreciate that there is constant fluctuation in global trade. That is why we continued to maintain a well-diversified sourcing network spanning more than 50 economies and avoided over-reliance on any single market, even when the environment appeared benign. This continues to be the right approach. Our ability to leverage this extensive network puts Li & Fung in the best position to help our customers optimize their sourcing and production and minimize tariff impact. The proliferation of bilateral free trade agreements has become the new norm, and this presents Li & Fung with opportunities not seen for the past 20 years.�/p>

    For details of Li & Fung’s 2019 Interim Results, please refer to the announcement posted on the HKExnews website http://www.hkexnews.hk/ and the Li & Fung website grupera929.com.

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    Li & Fung http://grupera929.com/press-release/li-fung-announces-completion-investment-lf-logistics-temasek/ Thu, 08 Aug 2019 10:07:41 +0000 http://cmswwwadmin.grupera929.com/?post_type=cpt-press-release&p=5340 Li & Fung Limited (“Li & Fung,â€?“the Group,â€?or “the Company;â€?SEHK: 494), the world’s leading supply chain solutions partner for consumer brands and retailers, today announced the successful completion of US$300 million investment in LF Logistics by Temasek. This values LF Logistics at approximately US$1.4 billion. The investment will allow the Company to … Continued

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    Li & Fung Limited (“Li & Fung,�“the Group,�or “the Company;�SEHK: 494), the world’s leading supply chain solutions partner for consumer brands and retailers, today announced the successful completion of US$300 million investment in LF Logistics by Temasek. This values LF Logistics at approximately US$1.4 billion. The investment will allow the Company to unlock the value of LF Logistics and accelerate its business growth, as well as enhancing Li & Fung’s capital structure and financial flexibility.

    多多棋牌With the completion of the investment, LF Logistics is now 78.3% owned by Li & Fung, the controlling shareholder, and 21.7% owned by Temasek, the Singapore-headquartered investment company. Proceeds from the investment will be used to fund future capital expenditures, repay existing bank facilities and accelerate business growth initiatives at LF Logistics. As a result of this investment, the proposed spin-off IPO will be postponed until further notice.

    Joseph Phi, Group President, Li & Fung said, “We are excited about the new chapter for LF Logistics following this investment to further accelerate our business growth. With operations in all of Asia’s fastest growing cities, we are well positioned to capitalize on the business opportunities brought by the rise of the Asian middle class, growth in e-commerce logistics, accelerated development in ASEAN, and our rapid expansion in new geographies including India.�/p>

    Spencer Fung, Group CEO, Li & Fung added, “The investment from Temasek represents a positive signal from the capital market on LF Logistics�strong organic growth. Our logistics strength integrated with Li & Fung’s sourcing and new digital supply chain solutions represents a unique end-to-end offering that encompasses the entire value chain. Our solid cash position and liquidity will allow us to fund future growth and complete our transformation efforts, as we strive towards our Three-Year Plan goal of creating the Supply Chain of the Future.�/p>

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    Li & Fung http://grupera929.com/press-release/li-fung-announces-investment-us300-million-temasek-lf-logistics/ Fri, 28 Jun 2019 04:31:13 +0000 http://cmswwwadmin.grupera929.com/?post_type=cpt-press-release&p=5318 Investment to accelerate LF Logisticsâ€?strong growth momentum Proposed spin-off IPO of LF Logistics is postponed until further notice Post completion, Temasek will hold 21.7% and Li & Fung, the controlling shareholder, with 78.3% Li & Fung Limited (“Li & Fung,â€?“the Group,â€?or “the Company;â€?SEHK: 494), the world’s leading supply chain solutions partner … Continued

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  • Investment to accelerate LF Logisticsâ€?strong growth momentum
  • Proposed spin-off IPO of LF Logistics is postponed until further notice
  • Post completion, Temasek will hold 21.7% and Li & Fung, the controlling shareholder, with 78.3%
  • Li & Fung Limited (“Li & Fung,â€?“the Group,â€?or “the Company;â€?SEHK: 494), the world’s leading supply chain solutions partner for consumer brands and retailers, today announced it has entered into a Subscription Agreement with Temasek, the Singapore-headquartered investment company  (“Temasekâ€?, for a cash consideration of US$300 million for approximately 21.7% stake of its Logistics business (“LF Logisticsâ€?.

    The investment values LF Logistics at approximately US$1.4 billion on a post-money equity valuation basis. Upon completion, Li & Fung will remain a controlling shareholder of LF Logistics, which at a 78.3% stake equates to approximately HK$1 of the Company’s current share price. Proceeds from the investment will be used to fund future capital expenditures, repay existing bank facilities and accelerate business growth initiatives at LF Logistics. As a result of this investment, the proposed spin-off IPO will be postponed until further notice.

    LF Logistics has achieved multiple-year double digit organic growth and it maintains strong momentum from multiple growth drivers, including robust growth in China, the e-logistics boom, accelerated development in ASEAN across all of its services, and its rapid expansion into new geographies including Japan, Korea and India.

    Joseph Phi, Group President, Li & Fung said, “We expect the strong growth of LF Logistics to continue. With operations in all of Asia’s fastest growing cities, we are well positioned to capitalize on rising middle class consumption and our early investment in e-logistics allows us to enjoy first-mover advantage. Our logistics strength combined with Li & Fung’s sourcing and new digital supply chain solutions, represents a unique end-to-end offering that encompasses the entire value chain.�/p>

    Spencer Fung, Group CEO, Li & Fung added, “The investment from Temasek will allow us to unlock the value of LF Logistics and accelerate its business growth. It will also enhance Li & Fung’s capital structure and financial flexibility. Our strong operating cash flow and solid balance sheet provides us with ample liquidity to fund future growth and complete our transformation efforts, as we execute our Three-Year Plan goal of creating the Supply Chain of the Future.�/p>

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    Li & Fung http://grupera929.com/press-release/li-fung-2019-annual-general-meeting/ Thu, 23 May 2019 10:12:06 +0000 http://cmswwwadmin.grupera929.com/?post_type=cpt-press-release&p=5275 Li & Fung Limited (“Li & Fung,â€?“the Group,â€?or “the Company;â€?SEHK: 494), the world’s leading supply chain solutions partner for consumer brands and retailers, today held its Annual General Meeting in Hong Kong. During the meeting, all shareholder resolutions were approved and adopted. The shareholders received and adopted the Audited Consolidated Financial Statements … Continued

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    多多棋牌Li & Fung Limited (“Li & Fung,â€?“the Group,â€?or “the Company;â€?SEHK: 494), the world’s leading supply chain solutions partner for consumer brands and retailers, today held its Annual General Meeting in Hong Kong. During the meeting, all shareholder resolutions were approved and adopted.

    The shareholders received and adopted the Audited Consolidated Financial Statements and the Reports of the Directors and the Auditor for the year ended 31 December 2018. In addition, the declaration of a final dividend of 4 HK cents per share for the year ended 31 December 2018, as announced on 21 March 2019, was approved.

    多多棋牌The shareholders also re-elected Victor Fung, Honorary Chairman; William Fung, Group Chairman; Marc Compagnon, Non-executive Director; and Martin Tang, Independent Non-executive Director, to the Board of Directors and re-appointed PricewaterhouseCoopers (PwC) as Auditor and authorized the Board of Directors to fix PwC’s remuneration.

    For more information, please refer to the notice of Annual General Meeting that was published on 17 April 2019 and our recently published 2018 Annual Report.

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    Li & Fung http://grupera929.com/press-release/li-fung-announces-2018-annual-results/ Thu, 21 Mar 2019 08:57:59 +0000 http://cmswwwadmin.grupera929.com/?post_type=cpt-press-release&p=5049 Core Operating Profit decreased 20% to US$285 million due to challenges in Supply Chain Solutions business New management team in place to accelerate turnaround and digital transformation Leadership in end-to-end 3D virtual design is disrupting traditional supply chains Logistics business continues strong organic growth with COP up 15% Strategic divestment of Product Verticals for US$1.1 … Continued

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  • Core Operating Profit decreased 20% to US$285 million due to challenges in Supply Chain Solutions business
  • New management team in place to accelerate turnaround and digital transformation
  • Leadership in end-to-end 3D virtual design is disrupting traditional supply chains
  • Logistics business continues strong organic growth with COP up 15%
  • Strategic divestment of Product Verticals for US$1.1 billion in April 2019
  • 多多棋牌Li & Fung Limited (“Li & Fungâ€? “the Groupâ€? or “the Companyâ€? SEHK: 494), the world’s leading supply chain solutions partner for brands and retailers, today announced its annual results for the year ended 31 December 2018.

    多多棋牌For the year under review, the Company was affected by the rapidly changing retail landscape, with record store closures and customer bankruptcies. Owing to the Company’s investments in a speed-enabled supply chain, its customers have been able to reduce their inventory levels, although this produced short-term negative impacts on the Company’s turnover. The ongoing US-China trade war had a minimal impact on Li & Fung’s business due to the company’s diversified sourcing network outside of China.

    多多棋牌On a like-for-like basis and excluding the impact of the strategic divestment of the three Product Verticals in April 2018, which triggered a one-off disposal loss of US$114 million, core operating profit (“COPâ€? of Continuing Operations decreased by 20% to US$285 million. This was largely due to decreases in turnover and total margin in the Supply Chain Solutions business, as well as continued investment in digitalization in line with the Company’s long-term strategic plan. Turnover decreased by 6.2% to US$12.7 billion, mainly due to customersâ€?ongoing destocking, customer turnover and bankruptcies. Total margin percentage improved by 0.4% to 10.6%, primarily a result of the increased contribution from the higher-margin Logistics business. Adjusted Profit Attributable to Shareholders decreased 15.9% to US$117 million, excluding gain on remeasurement of contingent consideration payable. Profit attributable to shareholders for Continuing Operations decreased by 26.2% to US$126 million. The Board of Directors has proposed a final dividend of 4 HK cents (2017: 2 HK cents). This brings the full-year total dividend to 7 HK cents per share.

    Spencer Fung, Group CEO of Li & Fung, said: �018 was a demanding year and we’ve made a fundamental reorganization of our business in line with our Three-Year Plan to build the Supply Chain of the Future. We initiated a structural change with a new management team to focus on our core customers and operational excellence. This includes a new Group President, a new Chief Operating Officer and an entirely new Chief Digital Officer position. We have the right strategy, and now the right structure and people in place. With all three elements in place we have built the right foundation for the future. I am confident that we are on the right track.�/p>

    Mr Fung continued, “Group President, Joseph Phi, has a strong track record having organically grown LF Logistics over the past decade. In his new role, Joseph will focus on account management and business development. As a team, we are focused on driving greater productivity in our global production platform by truly leveraging the scale of Li & Fung for our customers, capitalizing on our clear leadership in 3D design, and accelerating the build-out of our end-to-end digital platform. These initiatives are already helping to strengthen relationships with core customers and to convert new customers.�/p>

    The Logistics business continued to grow organically with double-digit increases. With strong demand for in-country logistics services, turnover and COP increased 10.2% and 14.6% to US$1.13 billion and US$86 million respectively. The growth of the Logistics business continued to be driven by strong growth momentum in China; e-logistics growth; accelerating growth in ASEAN across all services; and rapid expansion in the newer geographies of Japan, Korea and India. To further accelerate the pace of its growth, preparation is underway for the potential spin off and separate listing of LF Logistics to take place in 2019 depending on market conditions and other factors.

    In addition, 2018 was a turnaround year for the Onshore Wholesale business in the Americas, Europe and Asia with its turnover increasing by 7.4% to US$1.7 billion with recovery at major US customers and growth in the Asia onshore wholesale business. Furthermore, operating costs as a percentage of turnover improved by 80 basis points.

    Joseph Phi, Group President of Li & Fung, said: “The strong organic growth of LF Logistics is due to active engagement with our people and close collaboration with our customers. At Li & Fung, we are well positioned to integrate logistics with our traditional sourcing and supply chain solutions offering. This provides a faster and more digital supply chain, enabling us to cultivate closer and longer-lasting customer partnerships. We are pursuing market share gain and pipeline conversion as the twin drivers for our growth.�/p>

    Group Chairman, William Fung added, “With ongoing trade uncertainties, we continue to help existing and new customers optimize their production across over 50 countries of export. This provides the best defense against fluctuations in trade policy and mitigates any negative impact from tariff increases. I am confident that our new leadership team and organizational structure will help us drive productivity, strengthen customer relationships and, in turn, grow market share.

    For details of Li & Fung’s 2018 Annual Results, please refer to the announcement posted on the HKExnews website http://www.hkexnews.hk/ and the Li & Fung website grupera929.com.

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    Li & Fung http://grupera929.com/press-release/li-fung-appoints-joseph-phi-group-president/ Tue, 29 Jan 2019 03:59:43 +0000 http://cmswwwadmin.grupera929.com/?post_type=cpt-press-release&p=5013 Li & Fung has appointed Joseph Phi as the company’s Group President. As Group President, Joseph will lead the company’s Supply Chain Solutions operating groups, including Business Development. He will continue as President, LF Logistics and to serve on the Board of Directors of Li & Fung. He will report to Spencer Fung, Group CEO. … Continued

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    多多棋牌Li & Fung has appointed Joseph Phi as the company’s Group President. As Group President, Joseph will lead the company’s Supply Chain Solutions operating groups, including Business Development. He will continue as President, LF Logistics and to serve on the Board of Directors of Li & Fung. He will report to Spencer Fung, Group CEO.

    Joseph has a strong track record at the company having organically grown its logistics business over the past decade. He has nearly 20 years�experience with the company and is well positioned to assume this important leadership role. Joseph joined Li & Fung in 1999 and was previously executive director of Integrated Distribution Services Group Limited from 2004 until its acquisition by Li & Fung in 2011. He is Chairman of GS1 Hong Kong and a Director of its Management Board and is a Member of Supply Chain 50.

    He is an advisory committee member of Hong Kong Trade Development Council’s Logistics Services and honorary advisor of the Asian Logistics and Maritime Conference. He also serves as an advisory committee member of Eye Fund, a charitable institution in HK. Joseph graduated magna cum laude from the University of The Philippines (UP) with a Bachelor of Science degree in Industrial Engineering and attained a Master of Business Administration degree with top honors also from the same university. He is a 2011 recipient of UP College of Business Administration Distinguished Alumnus Award and 2013 recipient of UP Industrial Engineering Alumni Award and UP Alumni Engineers Global Achievement Award for Logistics. Between 2014 and 2018, he was an Adjunct Professor in the School of Business and Management at The Hong Kong University of Science and Technology.

    多多棋牌Joseph takes over from Marc Compagnon, who served as Group President and Executive Director of Li & Fung Limited from July 2014 and has moved to the Fung Group as Senior Advisor while remaining on the Board of Li & Fung Limited as a Non-Executive Director. Fung Group is the major shareholder of Li & Fung, whose core businesses operate across the entire global supply chain for consumer goods including sourcing, logistics, distribution and retail.

    Spencer Fung, CEO of Li & Fung said, “Our goal is to build the supply chain of the future to help our customers navigate the digital economy and to improve the lives of one billion people in the supply chain, and I am confident Joseph is the right person to build on the solid foundation that Marc has built and to take this to the next stage of development.�/p>

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    Li & Fung http://grupera929.com/press-release/li-fung-appoints-darren-palfrey-chief-digital-officer/ Tue, 22 Jan 2019 04:35:36 +0000 http://cmswwwadmin.grupera929.com/?post_type=cpt-press-release&p=4994 Li & Fung has appointed Darren Palfrey as the company’s Chief Digital Officer (CDO). Having reached a defining point in its digital transformation journey, the company has expanded its leadership team and created a new role with the purpose of accelerating its digital strategy. As CDO, Darren’s primary focus will be to realize Li & … Continued

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    Li & Fung has appointed Darren Palfrey as the company’s Chief Digital Officer (CDO). Having reached a defining point in its digital transformation journey, the company has expanded its leadership team and created a new role with the purpose of accelerating its digital strategy. As CDO, Darren’s primary focus will be to realize Li & Fung’s vision of the supply chain of the future and build the LF Digital Platform �a fully-integrated digital platform that connects suppliers, customers and other partners with end-to-end visibility.

    The appointment highlights the company’s focus on continuing to build on the strong progress it has already made in its Three-Year Plan (2017-2019) themes of speed, innovation and digitalization. Most significantly, the development of industry-leading 3D design capabilities that are a key contributor to increasing the speed of customers supply chains and reducing, on average, 20% of the lead time from design to store, leading to a decrease in mark-downs and inventory for its customers.

    A successful entrepreneur with over two decades of industry experience, Darren has held a number of leadership roles including Divisional Director of Supply Chain at Allport, Development Director at Uniserve Group, and in the supply chain team at TTC Global. Most recently, Darren co-founded and was COO of Gravity Supply Chain, at which his team developed and brought to market, a state-of-the-art digital supply chain management platform. A UK national, Darren received a Bachelor of Arts in Commerce from the University of Manchester.

    “As Chief Digital Officer, Darren plays a critical role in helping us get closer to our vision of creating the supply chain of the future,�said Spencer Fung, CEO of Li & Fung. “Our role as a traditional sourcing company is quickly transitioning to becoming a provider of supply chain services and solutions that leverage technology and data to create value. 2019 is the year of acceleration of our digital strategy and that’s where our new CDO Darren comes in. I look forward to creating a new generation of digital solutions to help our customers and partners revolutionize their supply chains.�/p>

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