Li & Fung acquires UK-based Orrsum in strategic expansion move
This acquisition marks a strategic move for Li & Fung, representing its first acquisition in over a decade and its first since the company's privatisation in 2020. Destan Bezmen, president of LF Europe, commented on the strategic rationale, stating, 'This acquisition marks a significant step in accelerating our growth strategy. By combining Orrsum's category leadership and product development capabilities with Li & Fung's digital infrastructure and global reach, we are scaling high-demand categories, broadening our customer offering, and driving faster, more flexible execution across markets.'
Orrsum will operate as an integral part of LF Europe and will continue to be led by its CEO, William Orr, ensuring seamless business continuity and integration into Li & Fung's global platform. The newly acquired business is set to leverage Li & Fung's AI-enabled digital infrastructure and extensive sourcing network spanning 40 economies to enhance supply chain agility, improve speed-to-market, and facilitate expansion into new geographies and channels.
William Orr expressed his enthusiasm for the collaboration, remarking, 'Joining the Li & Fung family is a milestone for Orrsum. 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.'
Looking ahead, Joseph Phi, Group CEO of Li & Fung, outlined the company's future growth trajectory: '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. This acquisition reflects our renewed momentum through expanded product specialization, leveraging our resilient, technology-enabled, and customer-focused global supply chain.'
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