It looks like Li & Fung Ltd. will continue to be hot on the acquisition trail.
Fresh from snapping up handbag company Van Zeeland Inc., Hong Kong-based sourcing giant Li & Fung Ltd. has lined up a new investor as it sets its sights on making more acquisitions. Singapore-based investment firm Temasek Holdings Ltd. has agreed to invest 3.9 billion Hong Kong dollars, or about $500 million, in the Hong Kong company via a specially reserved Li & Fung capital increase. Temasek will buy 168 million new Li & Fung shares at 23 Hong Kong dollars, or $2.95, a share, giving the Singapore company a 4.6 percent stake in Li & Fung. The latter said it will use most of the funding to fund further acquisitions.
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?"