Li & Fung buys US shoe firm
Hong Kong-based consumer goods company Li & Fung is acquiring American shoe company Jimlar.
The company, which supplies a number of large retailers such as Wal-Mart and Target, is looking to expand its global operations, particularly in major markets such as the US. It also hopes the acquisition will improve its capabilities in the footwear business and provide further footwear sourcing capabilities for the Group as a whole
Established in 1956 by Victor and Madeleine Tarica, Jimlar designs, sources, markets and distributes a wide range of footwear and accessories. It produces footwear under license for Coach and Calvin Klein as well as for its own brands Frye, Mountrek and RJ Colt.
Earlier in the month, Li & Fung acquired Chinese furniture exporter Kenas Furniture Group.
