Walmart reduces goods sourcing from Li & Fung
Move raises concerns that the buying agent may see other customers follow suit
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Hong Kong
WALMART Stores Inc, the world's biggest retailer, pulled some goods sourcing business from Li & Fung Ltd, raising concerns that the Hong Kong company may see other customers follow suit.
"We have made a decision to transfer certain sourcing functions for Walmart in-house," Walmart said. Li & Fung's Direct Sourcing Group Pte (DSG) will continue to supply Sam's Club goods, the retailer said.
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