HONG KONG — Global economic problems might be causing concern from New York to New Delhi, but Li & Fung is feeling no ill effects — and sees plenty of opportunity for growth both organically and through acquisitions.
The apparel sourcing giant said Thursday that sales in 2007 registered their strongest growth in seven years — a 36 percent gain — as it revealed a three-year plan to grow core operating profits to $1 billion and revenues to $20 billion by 2010. Of this, $16 billion will come from its core sourcing business and $4 billion from onshore business in the U.S., Europe and China.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"