Li & Fung gets into a JV with South Ocean to cre­ate global knitwear

Perfect Sourcing - - International News -

Global sup­ply chain man­ager Li & Fung Lim­ited has inked a joint ven­ture with knitwear ex­porter South Ocean Knit­ters which will give it the sta­tus of one of the largest sup­pli­ers of the global knitwear sec­tor. Hong Kong-based Li & Fung tied up with Tommy Hil­figer and Calvin Klein owner PVH in a sup­ply chain deal ear­lier this year. The joint ven­ture, Cobalt Fash­ion Hold­ing Lim­ited, will be owned 62 per cent by Li & Fung and 38 per cent by South Ocean. The JV will com­bine the op­er­a­tions and re­sources of Li & Fung’s sweater ver­ti­cal to­gether with South Ocean’s knitwear busi­ness to be­come one of the largest knitwear sup­pli­ers glob­ally.

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