HONG KONG – Li & Fung said Thursday that sales in 2007 registered their largest growth in seven years, rising 36 percent to $12 billion. Core profits rose a similar amount to $408.6 million.
The sourcing giant also revealed details of its next three-year plan, with sourcing and acquisitions both playing major roles.
By the end of 2010, the company targets sales of $20 billion, from which $16 billion will come from its core sourcing business and $4 billion from the onshore business in the U.S., Europe and China.
For further coverage, see Friday’s issue of WWD.