Consumer goods export giant Li & Fung has strengthened its trading position further with the signing of seven new deals over the past few months. The agreements cover three acquisitions and four licensing deals, including the buying of Hong Kong-based HTP Group, a design-driven jeanswear specialist.
Li & Fung said the buy would strengthen its denim sourcing capabilities, and it expects synergies with existing companies. The Hong Kong company has also bought Cipriani Accessories and its affiliate, The Max Leather Group.
It described Cipriani as a leading designer, distributor and importer of men’s and women’s accessories in the United States, Mexico and Canada, further strengthening the market position in accessories of Li & Fung subsidiary LF USA. The four licensing deals include a partnership with celebrity stylist Rachel Zoe to create a new collection of women’s apparel, footwear, handbags, jewelry and accessories.
LF USA has also expanded its existing deal with martial arts apparel company Tapout, under which its Wear Me Apparel division will now take charge of the production and distribution of sportswear under the Tapout and PTS brands.
Li & Fung has also joined forces with Star Branding – including partners Tommy and Andy Hilfiger, Bernt Ullman and Joe Lamastra – to form MESH (Music Entertainment Sports Holdings), aimed at creating lifestyle concepts inspired by consumer connections with music, entertainment and sports.
Finally, the company has signed a licensing agreement with the Sean John men’s sportswear and active wear brand inspired by music mogul Sean “Diddy” Combs, with creative, design and distribution to be undertaken by LF USA.
“Over the past few years, we have set goals to expand our US onshore and beauty business,” said William K Fung, group managing director of Li & Fung. “We have made significant inroads so far, and our pipeline of deals remains strong.”
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