After a goodnight sleep after our arrival to Hong Kong we awoke bright and early to visit the Li & Fung headquarters where we were graciously hosted by Deborah Vinson, Marc Compagnon, Rick Darling, and Mable Chan. After a delicious lunch consisting of authentic Chinese dishes, Marc introduced LF Trading to the group and talked about the importance of sourcing and the strategic role that Li & Fung plays by leveraging its network of people and specialized knowledge to drive down cost in sourcing retail. By far LF Trading is the largest company under the Li & Fung Group, responsible for generating approximately 70-80% of the organizations operating income. Next Rick Darling of LF USA discussed the ongoing transformations within Li & Fung and the move into product design with the creation of LF USA, located in New York, during 2004. The last presenter of the day was Mable Chan who talked about investor relations and the annual corporate results for 2009 while providing guidance for 2010. Lastly, we were guided through the corporate office and their amazing show rooms which almost resembled a shopping center.
For dinner we were invited for cocktails at Posto Publico, owned by Rick Darling's son, and then were broken into two groups which visited two different restaurants owned by Bruce, the President of Li & Fung. My group ate supper at this place called Red Soho which words alone could not describe. Red Soho was stunning and unbelievable, customer service was impeccable and the social atmosphere full of life.
Once again we would like to thank everyone who has made this trip possible!
~Michael Nemmetz and Brian Reinke
1 comment:
Was wondering: what did Rick Darling say about career opportunities at LF USA?
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