NEW YORK — Li & Fung USA is gearing up for more acquisitions, and its first move on that front is the creation of two management teams to focus on the apparel and home categories.
Robert Crocco, promoted to executive vice president, will lead the apparel brands group, which includes the licenses for Levi's Red Tab and Levi's Signature brands. David Carey is senior vice president of Levi's Red and Deborah Vincent is senior vice president of Levi's Signature.
"By creating this new management structure, we are in a better position to pursue our goal of adding great consumer brands," said Rick Darling, president of Li & Fung USA's Global Brand Business Group.
Crocco's counterpart to head up the home brands team is Jack Toolan, who also was promoted to executive vice president.
Darling said Li & Fung also promoted Ron Ventricelli to executive vice president of operations. Ventricelli will be responsible for finance, customer service and all operating issues relating to the global brands business group. All three executive vice presidents report directly to Darling.
"Bob and Jack bring tremendous industry expertise that will be invaluable in launching and nurturing our brands, in both the home and apparel businesses," Darling said.
The president of Li & Fung USA added that Ventricelli's expertise will help the U.S. subsidiary of Hong Kong-based sourcing group Li & Fung Trading Ltd. operate a more efficient back-end process.
"I am looking forward to working with all of them to build our portfolio," Darling said.
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