HONG KONG — Li & Fung Ltd. posted a 17 percent increase in net profit for full-year 2013, helped by a turnaround in the group’s LF USA business. The company also revealed a possible spin-off of its global brands and licensing business on the Hong Kong Stock Exchange.
Li & Fung’s net profit for the 12-month period ended in December totaled $725 million, while revenues increased 3 percent to $20.7 billion.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)