Li & Fung said to form JV with 2 China retailers
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Hong Kong
LI & Fung Ltd plans to form a joint venture with two Chinese department store operators to help the retailers develop their own brands of clothes and home products, according to a person familiar with the matter.
Li & Fung, which supplies Walmart Stores, will also help license and manage the brands, said the person, who asked not to be identified as the information is private. The Hong Kong-based company said that it will have a signing ceremony in Shanghai on Tuesday to announce a partnership with Shanghai Bailian Group Co and Beijing Wangfujing Department Store Group Co.
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