with contributions from Ellen Sheng
 on August 11, 2011

Li & Fung Ltd., the Hong Kong-based sourcing giant, on Thursday posted a 16 percent decline in first-half profits, and said it acquired children’s apparel firm Fishman & Tobin Inc. and costume jewelry company Crimzon Rose International.

Both acquisitions of American firms will fall under the LF USA umbrella. Terms of the two deals were not disclosed.

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