Li & Fung Surpasses Three-year Plan

Diversified consumer products supplier and distributor Li & Fung has "successfully exceeded our original 2005-2007 three-year plan," which targeted $10 billion in revenues, by achieving total annual revenues of $11.8 billion, the company said (all figures in US$).

Marking its "strongest turnover growth since 2000," sales for the year ended Dec. 31, 2007 increased by 36% from 2006 on internal expansion and acquisitions. Alliance, an Indian home furnishings buying agency bought for $13 million in December, was one recent acquisition.

Earnings of $393.3 million were up 39.1% from $282.8 million in 2006.

Larger in apparel (and also active in cosmetics), Li & Fung in home textiles owns supplier Homestead and is a licensee of such brands as Royal Velvet, a former Pillowtex brand now owned by Iconix Brand Group.

Li & Fung said its U.S. market now represents 65% of total business — down from 72%, the result of a planned move into Europe, which now accounts for 26% of sales.

In the new plan for 2008-2010, the company is aiming for global revenues of $20 billion, with three-fourths of that to come from sourcing operations. The operating-profit goal will be $1 billion.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.

CURRENT ISSUE

HTT Cover October 2017

See the October 2017 issue of Home & Textiles Today. In this issue, we look at the Top 25 Online Retailers.  H&TT's exclusive annual ranking of the biggest online sellers of home textiles finds that while pure play etailers continue to fly, bricks & clicks are digging into omnichannel. See details!