By and  on August 9, 2012

The same economic turmoil that hurt Li & Fung in the first half — pushing operating profits down 21.6 percent — is also opening opportunities for the sourcing giant to acquire more European businesses.

Bruce Rockowitz, group president and chief executive officer, told WWD that Europe still has “a few more years” before it works through economic troubles, which he likened to a slow-motion version of what happened in the U.S. after the 2008 Lehman Brothers collapse.

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