Hong Kong firm will provide sourcing for Talbots

"Hong Kong firm will provide sourcing for Talbots | AboutHK.Com - more information about HK"

Chris Reidy, Globe Staff Talbots Inc., a Hingham firm known for its women's clothing, and global consumer goods exporter Li & Fung Ltd. said that they have entered into a buying agency agreement under which Hong Kong-based Li & Fung will act as the exclusive global apparel sourcing agent for the Talbots brand. Talbots has had its share of challenges of late, and president and chief executive Trudy F. Sullivan said the agreement will help boost Talbots' turnaround plan. A press release included a statement from Sullivan. Sullivan said: “We have made tremendous strides over the past year executing our long-range strategic plan, and we believe that this partnership with Li & Fung represents another significant step towards enhancing our operating performance. By leveraging Li & Fung’s position as a best-in-class sourcing agent, we will be able to simplify and centralize our sourcing activities, which we anticipate will further reduce our costs of goods sold and internal operating expenses, while improving our time to market. Together with Li & Fung, we plan to develop a single, world-class supply chain organization that will strengthen our competitive position." Comments Please login to post comments or replies.