JD.com invests in Li & Fung

Li & Fung has received the investment by means of an issuance of new shares at one.twenty five Hong Kong dollars every. The group’s founding household will keep the control of the business, with sixty% of the voting shares.

The new partnership is section of the electronic transformation strategy led by Li & Fung’s fourth-technology chief and group CEO Spencer Fung. He envisions a electronic platform that connects clients and vendors, although delving far more into data investigation, on the net get tracking, financing and virtual style.

Earlier this year the Fung household took the business personal as section of a deal with Singapore logistics business GLP Team.

Fung claimed: “Our target to produce the supply chain of the upcoming and to boost the lives of just one billion persons in our international supply chain stays far more pertinent than at any time in this turbulent world. The partnership with GLP and the addition of JD will be instrumental in further strengthening Li & Fung.”