
China's Li & Fung acquires Orrsum
Financial terms of the deal were not disclosed.
Under the deal, Orrsum will operate as part of LF Europe and continue to be led by William Orr. The British business will leverage the Hong Kong-based firm's AI-enabled digital infrastructure and sourcing network across 40 economies to strengthen supply chain agility, improve speed-to-market, and expand into new geographies and channels, according to a press release.
'Joining the Li & Fung family is a milestone for Orrsum,' said William Orr, CEO of Orrsum, which delivers over 50 million pairs of socks annually to more than 5,000 retail doors worldwide.
'With access to their global platform and advanced technology, we can expand our footprint, enhance service levels, and unlock new growth opportunities for our customers and partners.'
The deal is Li & Fung's first acquisition in over ten years, and marks the first takeover since it went private in 2020. The supply chain management company said the deal is a strategic pivot toward platform-based growth, focused on scalable product categories, digital integration, and resilient supply chain solutions.
'Looking ahead, our growth will be fueled by a combination of disciplined organic expansion and selective acquisitions that strengthen our platform and extend our category leadership,' said Joseph Phi, group CEO of Li & Fung.
'This acquisition reflects our renewed momentum through expanded product specialization, leveraging our resilient, technology-enabled, and customer-focused global supply chain.'
Founded in 1998, Orrsum makes hoisery and underwear for global brands including Ellesse, Ted Baker, Nautica, Umbro, Penguin, Hype, and Coca Cola, among others.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Fashion Network
2 hours ago
- Fashion Network
American brand Cotopaxi launches in Portugal
American outdoor clothing and accessories brand Cotopaxi is now available in the Portuguese market. Distributed in the country by the Lisbon-based business CoolAndFunctional, the label launched in multi-brand stores across the country this month. Cotopaxi is now available in the country at select points of sale, such as outdoor and adventure stores, camping, surfing, and even some fashion stores "due to the variety of accessories and backpacks it offers," CoolAndFunctional told The Portuguese business added that, for Cotopaxi's debut in the Portuguese market, it is delivering its Autumn/Winter 2025 collection to retailers, focusing on introducing local consumers to its accessories and backpack lines, which "have contributed to the brand's notoriety today," highlighting the Del Día collection, "which is characterised by the creation of exclusive products, made from recycled fabric scraps, to make for unique pieces and prevent materials from ending up in landfills." After introducing Cotopaxi to the Portuguese market this season, CoolAndFunctional intends to reach more points of sale with its spring-summer 2026 season, adding that "collaborations, initiatives, and events are already planned for the launch of the brand in 2026". Based in Salt Lake City, Utah, Cotopaxi is a project by Davis Smith, who was born in the US but grew up in various parts of Latin America, where he witnessed the effects of poverty. In 2014, Smith returned to the US and founded Cotopaxi, recruiting Stephan Jacob and CJ Whittaker as co-founders. Currently, Cotopaxi has over 120 employees and five physical stores in the US. However, the bulk of its business is conducted online. Internationally, in addition to Portugal, the brand is also present in Japan, Spain, the UK, Australia, New Zealand, China, and the Middle East. Created with a focus on social responsibility and sustainability, a percentage of the brand's profits go to the Cotopaxi Foundation, which supports poverty reduction projects. Cotopaxi is the latest innovation to be introduced in Portugal by the Lisbon-based company CoolAndFunctional, which at the beginning of 2024 brought the American sock brand Merge4 to the Portuguese market (as well as Spain and France).


Fashion Network
2 hours ago
- Fashion Network
LVMH shares rise after mixed bag results with 'glimmers of hope'
Shares in French luxury group LVMH rose on Friday after the group reported quarterly results, with analysts pointing to hopes on the horizon as the group said it saw some signs of recovery in the key Chinese market. LVMH's quarterly sales for products like Louis Vuitton handbags, Dior dresses and Moet & Chandon champagne came in slightly below expectations, at 19.5 billion euros (22.88 billion dollars), down 4% year-on-year, with a 9% sales drop at the group's core leather and fashion division. After an initial dip at market open as investors grappled to get a reading of what Citi analysts called a "mixed bag" of results, LVMH shares steadily reversed course, trading 3.5% up midday and lifting sector peers Kering and Hermes. HSBC analysts said in a note that higher-than-expected profit margins were a sign the group has become more pragmatic and efficient under the leadership of CFO Cecile Cabanis, who was appointed at the end of 2024. Deutsche Bank analyst Adam Cochrane said that while the second-quarter results were not "stellar", there were some "glimmers of hope". "Investors have been waiting for an opportunity to revisit this stock and the conference call highlighted a number of factors which may encourage a tangible recovery in China, market share gains in key brands and potential for structural efficiencies as well as ongoing tight cost management", he wrote in a note. LVMH's finance chief on Thursday said the company saw some "tangible improvement" In China, where a real estate crisis has dampened appetite for luxury goods. French luxury heavyweights have been facing a prolonged downturn as brands also face the threat of U.S. import tariffs.


Fashion Network
2 hours ago
- Fashion Network
American brand Cotopaxi launches in Portugal
American outdoor clothing and accessories brand Cotopaxi is now available in the Portuguese market. Distributed in the country by the Lisbon-based business CoolAndFunctional, the label launched in multi-brand stores across the country this month. Cotopaxi is now available in the country at select points of sale, such as outdoor and adventure stores, camping, surfing, and even some fashion stores "due to the variety of accessories and backpacks it offers," CoolAndFunctional told The Portuguese business added that, for Cotopaxi's debut in the Portuguese market, it is delivering its Autumn/Winter 2025 collection to retailers, focusing on introducing local consumers to its accessories and backpack lines, which "have contributed to the brand's notoriety today," highlighting the Del Día collection, "which is characterised by the creation of exclusive products, made from recycled fabric scraps, to make for unique pieces and prevent materials from ending up in landfills." After introducing Cotopaxi to the Portuguese market this season, CoolAndFunctional intends to reach more points of sale with its spring-summer 2026 season, adding that "collaborations, initiatives, and events are already planned for the launch of the brand in 2026". Based in Salt Lake City, Utah, Cotopaxi is a project by Davis Smith, who was born in the US but grew up in various parts of Latin America, where he witnessed the effects of poverty. In 2014, Smith returned to the US and founded Cotopaxi, recruiting Stephan Jacob and CJ Whittaker as co-founders. Currently, Cotopaxi has over 120 employees and five physical stores in the US. However, the bulk of its business is conducted online. Internationally, in addition to Portugal, the brand is also present in Japan, Spain, the UK, Australia, New Zealand, China, and the Middle East. Created with a focus on social responsibility and sustainability, a percentage of the brand's profits go to the Cotopaxi Foundation, which supports poverty reduction projects. Cotopaxi is the latest innovation to be introduced in Portugal by the Lisbon-based company CoolAndFunctional, which at the beginning of 2024 brought the American sock brand Merge4 to the Portuguese market (as well as Spain and France).