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.
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?"