Hong Kong-based Li & Fung Ltd. said Monday that a Court of Appeal has ruled in favor of its subsidiary Li & Fung (Trading) Ltd. in upholding a judgment by a lower court in connection with offshore income.
Li & Fung contracted work with its overseas affiliated firms for services for customers outside of Hong Kong. Although the supplier and customer were both located overseas, the commission was paid to the Hong Kong-based firm.
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?"