US: Liz Claiborne and Li & Fung complete sourcing pact
By just-style.com | 31 March 2009
As of today (31 March), Hong Kong-based global consumer goods exporter Li & Fung is the main global apparel and accessories sourcing agent for all brands in the Liz Claiborne Inc portfolio.
The two companies have completed a deal announced last month, in which Li & Fung has bought Liz Claiborne's sourcing operations for US$75m, with up to US$8m more due by 14 April.
The agreement covers brands including Lucky Brand, Juicy Couture, Kate Spade, and Isaac Mizrahi-designed Liz Claiborne New York, but not its jewellery product lines.
Li & Fung is also the sourcing agent for Mexx under an earlier pact.
Going forward, Liz Claiborne will pay an agency commission on its product purchases through Li & Fung.
Sectors: Apparel, Footwear, Manufacturing
Companies: Liz Claiborne, Isaac Mizrahi
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