Consumer Staples Author: Yue Liu Aug 13, 2020 04:16 PM (GMT+8)

"Our goal is to create the future supply chain and improve the lives of one billion people in the global supply chain," said Feng Yujun, Chief Executive Officer of Li & Fung Group.

Image credit: EqualOcean

Li & Fung Group received a USD 100 million strategic investment from JD.com on July 31, 2020. The two parties will conduct long-term in-depth cooperation in the digital supply chain and private branding.

Li & Fung has been committed to creating the future supply chain and will make full use of its global supply network and digital supply chain to expand its business in China further.

The two parties have a high degree of strategic synergy in the direction of digital transformation. JD.com has digital technology and abundant online and offline retail resources, which can accelerate the digital transformation and upgrading of Li & Fung Group, leading the evolution in global supply chain services.

Faced with the impact of industry digitization, continued tense global trade friction, coupled with the effect of the epidemic, global supply chains have become increasingly complex. In the context of the current COVID-19 outbreak impacting the global physical retail industry and the restructuring of the worldwide supply chain, the cooperation between JD.com and Li & Fung has far-reaching strategic significance.