Deals
Century-Old Li & Fung Wants to Go Private as Blows Keep Coming
- Company started searching for partners in second half of 2019
- Core operating income declined 74% since 2013; stock down 98%
A 3D graphic rendering of a garment design is displayed on an employee's screen at the Li & Fung Ltd. offices in Hong Kong, China.
Photographer: Bobby Yip/BloombergThis article is for subscribers only.
After struggling to turn its century-old business around by itself over the last few years, the world’s biggest supplier of consumer goods realized it couldn’t survive the headwinds on its own.
In the second half of last year, Li & Fung Ltd., which designs, sources and transports consumer goods from Asia for some of the world’s biggest retailers including Walmart Inc. and Nike Inc., began exploring options for its future, said people familiar with the matter.