Kazia Jaszkiewicz
Rita Galkina
Billy Hazel
Mallory W
Hannnah P
Hong Kong-based multinational Li & Fung Limited announced strong core operating profit growth of 42% in 2010, reflecting solid organic growth and significant margin expansion from onshore businesses. It also announced the details of its new Three-Year Plan for 2011-2013, which include reaching core operating profit of US$1.5 billion by 2013.
For the year ended 31 December 2010, the Group's turnover grew 19% over the year before to HK$124.1 billion (US$15,912 million), reflecting improving consumer sentiment. Core operating profit increased to HK$5,656 million (US$725 million) as a result of further margin improvement from the higher-margin onshore businesses of the United States and Europe.
Profit attributable to shareholders reached HK$4,278 million (US$548 million), an increase of 27% compared to 2009. Basic earnings per share were 111.9 HK cents, an increase of 23% compared to 91 HK cents in 2009.
The Board of Directors ("Directors") has proposed a final dividend of 52 HK cents per share (2009: 49 HK cents).
The Directors of the Group propose that each of the existing issued and unissued shares of par value of 2.5 HK cents each in the share capital of the Group be subdivided into two shares of par value of 1.25 HK cents each in order to improve market circulation of the shares.
Mr. William K Fung, Group Managing Director of Li & Fung Limited, said, "This marks the end of our Three-Year Plan 2008-2010, which finished with a robust performance that underscores the dynamics of our businesses and the operational excellence we achieved despite the financial crisis and recession. We also concluded the year by making major progress on shaping the future of our business and laying a solid foundation for our new Three-Year Plan."
"Now, with the acquisition of Integrated Distribution Services Group Limited ("IDS"), we are able to offer the most comprehensive supply chain solutions to our customers. It has also expanded our geographical coverage for future growth, while at the same time strengthening our distribution network to capitalize on growing opportunities in emerging markets."
Today the Group also announced the details of its new Three-Year Plan 2011-2013. The Group has set a target of reaching US$1.5 billion in core operating profit by 2013, with trading, logistics and onshore expected to contribute US$700 million, US$100 million and US$700 million respectively.
Mr. Bruce Rockowitz, President of Li & Fung (Trading) Limited, said, "This new Three-Year Plan marks the beginning of a new era at Li & Fung, one in which higher prices have brought the industry status quo to an end. We have grown from one global network to three – trading, logistics and onshore – but the whole is much greater than the sum of its parts. While the Three-Year Plan targets are once again ambitious, we are confident about us achieving them because the Group now covers the entire supply chain end-to-end and is well positioned to grow across these three distinct yet interconnected networks.
"We will also continue to pursue our two-pronged strategy of pursuing acquisitions to complement our organic business growth, while maintaining our solid balance sheet and financial strengths," Mr. Rockowitz concluded.
Li & Fung Limited, the Hong Kong-headquartered multinational group, is recognized as the world's leader in consumer goods design, development, sourcing and distribution.
The 15th International Exhibition on Textile Industry (ShanghaiTex 2011) will be held at Shanghai New International Expo Centre, Pudong, Shanghai during June 14 – 17, 2011. With 3 months ahead, China and overseas exhibitors are busy preparing their exhibition items and highlights. Several exhibitors have previewed their new machines and technology for a glance.
Grand Showcase of Chinese Exhibitors
Benefited from new policy of the textile industry in China and global integration of market demand, organizers unveiled that more than 60% exhibitors of ShanghaiTex 2011 are from Chinese mainland and they aim to promote their export business by displaying their latest machines with new function and environmental-friendly, technological innovative equipment. This injects momentum and perspective to ShanghaiTex.
Switzerland's Santex is a textile machinery manufacturer, which specialized in investigation and knitted fabric finishing. Their products are awarded as top quality standard. In recent years, they have launched many high-efficiency and environmental friendly textile products that are welcomed by local and overseas customers. By taking part in W4 (Printing, Dyeing & Finishing Machinery & Textile Chemicals Zone), Santex will display Santastretch Plus, Santaspread, Santacompact CK, Santashrink Progress, Santabrush, SM6, Plurima, etc.
Italy's BTSR, setting up booth in W1 (Knitting & Hosiery Machinery Zone), proves itself to be one of the leading companies in yarn control solution design and development. BTSR will demonstrate Rolling Feeder at Shanghaitex 2011. ROLLING FEEDER is the ultimate BTSR innovation in bare elastomers feeding control, which is devised to impact seamless and knitting sectors habits and trends tied to bare elastomers applications.
Besides W1, W3 and W4, "Spinning, Nonwoven & Techtextile Machinery Zone" and "Spare Parts & Accessories Zone", are full and more exhibitors in these zones will be previewed soon. More than 1,000 local and overseas exhibitors will participate at ShanghaiTex and total exhibition area is expected to reach 92,000 sqm.
Active Support from Industry Associations
Being the long-standing textile machinery exhibition in the industry, ShanghaiTex's strong authority and the influential effect have been widely recognized and supported by many local and overseas industry associations. ShanghaiTex 2011 has gained the active support from numerous textile and garment associations from China and in the globe, such as China's Shenzhen, Foshan ChangCha, Shantou, Lishui, Nanhai, Pujiang etc. while buyer delegations from India, Vietnam, Korea, etc are being organized to visit the show.
Sponsored by Shanghai Textile Holding (Group) Corporation, China Council for the Promotion of International Trade Shanghai Sub-council and China Chamber of International Commerce Shanghai Chamber of Commerce, ShanghaiTex is organized by Shanghai International Exhibition Co Ltd., Shanghai Textile Technology Service & Exhibition Centre and Adsale Exhibition Services Ltd.
SGS now delivers SSC ISO Color Fastness Training Program in China. The program was designed to promote best practices and to provide knowledge in a number of key areas.
Designed to help people work, think and learn more effectively, the training focuses on topics of direct concern when working with ISO Color fastness test methods. This program can ensure that everyone in the textile supply chain knows how to carry out the tests more effectively and efficiently and analyze results correctly. The modules are designed for specifies, designers, buyers, garment technologists, fabric makers, dyers, garment makers, etc.
The SGS Group is the global leader and innovator in inspection, verification, testing and certification services. Founded in 1878, SGS is recognized as the global benchmark in quality and integrity. With more than 64,000 employees, SGS operates a network of over 1,250 offices and laboratories around the world.
SDC is the world's leading independent, educational charity dedicated to advancing the science and technology of colour worldwide. Established in 1884, we have been representing our members and our industry for over 100 years.
Hincapie Sportswear (Hincapie), manufacturer and marketer of distinctive clothing for the performance cyclist, has hired Frank Raduziner to represent the brand in Southern California. Effective immediately, Raduziner will represent Hincapie for retail cycling apparel and accessory sales to independent bicycle dealers and sell Hincapie custom cycling clothing to clubs and teams in California.
"We are thrilled to add an experienced sales representative like Frank to our growing sales team," says Lynn Joslin, Hincapie Sportswear National Sales Manager. "Frank has come up to speed with our products very quickly, thanks to his previous sales experience with cycling apparel. He has a stellar reputation, and he's developed some close trusted relationships with his customers. With George Hincapie and the BMC Racing Team competing at the Tour of California, we're confident that the timing is right to really grow sales in California."
With over 30 years of retail, wholesale and product sales experience in both the bicycle and motorcycle industries, Raduziner understands what it takes to help his customers achieve their goals. He has significant experience selling cycling apparel to dealers in Southern California, and he will draw on that expertise to grow Hincapie business in his territory.
"I look forward to working with the Hincapie team," says Raduziner. "It's great to be associated with a brand name that is so tightly woven into American and International cycling. I'm excited to build the Hincapie brand in such a strategic cycling market."
Li Ning Company Limited, one of the leading sports brand enterprises in China, announces its results for the year ended 31 December 2010. Revenue grew by 13.0% to RMB9,478.5 million. Profit attributable to equity holders recorded a year-on-year growth of 17.4% and fetched to RMB1,108.5 million, while earnings per share increased by 16.6% to RMB105.84 cents.
The Board of Directors has resolved to recommend payment of a final dividend of RMB19.97 cents per ordinary share. Including the interim dividend of RMB22.15 cents per ordinary share already paid during the year, total payout for the year amounted to RMB42.12 cents per ordinary share (2009: RMB36.12 cents).
In 2010, the Group's core brand, the LI-NING brand achieved revenue of RMB8,734,294,000, accounting for 92.1% of the Group's total revenue and representing an increase of 13.5% as compared with 2009, which was broadly in line with the overall industry growth for the year. Among the different product categories, equipment products recorded a faster growth, which was attributable to the higher sales growth achieved by badminton products than the industry's average.
"In 2010, we continued to strengthen our core competencies in branding, product, sales channel and supply chain management. Nonetheless, the increasingly competitive market, growing sophistication of consumers and rapid urban development in China prompted changes in the sporting goods industry in China. This posed challenges to brand owners and instigated reforms to their business models.
"To meet today's consumer needs and to capture the value-driven mainstream market, based on our analysis of the development trends for the sporting goods industry in China, we must take proactive steps to initiate changes in order to enable the Group to enjoy long term, sustainable growth," said Mr. Li Ning, Chairman of the Group.
Mr. Li concluded, "Some 10 years ago, the Group found itself at a similar cross-road that called for decisive action on the direction of the Group's future development. Although the process went through twists and turns, the success of the changes laid a foundation for the Group's subsequent decade-long spectacular growth and reinforced the LI-NING brand's market position today.
"In light of the changes China and international markets are experiencing today, we once again find ourselves in a critical moment in history when we must rise up to meet the challenges and capitalise on the opportunities available to us."
"2011 marks a year during which the Group will initiate adjustments to the implementation of its business strategy. Notwithstanding the difficulties and challenges that lay ahead, with our clearly defined objectives, our unrelenting implementation and the uncompromising efforts of our team, we firmly believe that our investments, contributions and commitment to reform will translate into a firm footing to support another stage of rapid growth in the forthcoming development cycle, while realizing our goal of becoming a world-class sports brand. Let's ‘Make the Change'!"
Professor Annamma Joy from University of British Columbia, Canada recently visited the campus of Pearl Academy of Fashion, India's leading fashion and design institute. The idea behind her visit was to take sessions /classes with the Masters students on Experiential Branding, Fast Fashion, Customer based Brand equity, Brand Positioning and integrated marketing communication.
Dr. Annamma Joy, Professor, University of British Columbia, said: "It was indeed a very wonderful experience being with the students of Pearl Academy of Fashion. I am impressed by seeing the enthusiasm and interest they have shown in the activities. I would definitely like to engage them into research projects and have an association with in future."
During the session, she taught them the Zaltman Metaphor Elicitation Technique which elicits both conscious and especially unconscious thoughts by exploring people's non-literal or metaphoric expressions which will help them in understanding the psychology of the customer.
Dr. A.K.G Nair, Group Director, Pearl Academy of Fashion, said: "It was indeed a pleasure to have Dr. Annamma present in Pearl Academy of Fashion. Through this workshop/session the students got an excellent chance to exchange their thoughts and explorations about the subject. We hope that this opportunity has been a great help to the students in their learning process and we promise to have more international prospects for the better knowledge of our students in future."
Conductive fibers occupy their own unique niche in the wire and textile market place. The industry's identity is not distinctive, with conductive fibers treated as another wire or textile. These manufactures are now joining together with a trade council, the Conductive Fiber Manufacturers Council.
Conductive fibers have a long and glorious history. The filament in Thomas Edison's light bulb was made of carbonized sewing thread. Of the hundreds Edison tried, this was the first filament that met his needs for resistance and life span.
Conductive fibers consist of two groups: (1) intrinsically conductive fibers and conductive polymers which constitute the largest portion of the industry, with carbon fiber being the biggest portion. (2) The second group includes non-conductive or less conductive substrates, which are then either coated or embedded with an electrically conductive element, often carbon, nickel, copper, gold, silver, or titanium. These substrates typically include cotton, polyester, nylon, and stainless steel and high performance fibers such as aramids and PBO.
Many industries, including military, aerospace, aviation, medical, textile, transportation, are demanding changes in the nature of wire in order to increase their performance. Wire and cable revenues in the US are a $22 billion (US$) industry, and 6 to 7 times as large internationally. Conductive fibers straddling both worlds of textiles and wires, are sold either by weight or length, and measured in denier or AWG.
Uses for conductive fibers and textiles may include static dissipation, EMI shielding, signal and power transfer in low resistance versions, and as a heating element in higher resistance versions. Their benefits over solid or stranded metal wires come from conductive fibers' flexibility, low weight with high strength, extreme durability in some cases, and the ability to use them in existing textile and wire machinery (weaving, sewing, braiding, twisting, stranding, etc.) Some conductive fibers have high temperature durability and can be soldered like solid wire.
Conductive fibers represent a vast growth market which is largely untapped. As more engineers and discover the benefits of conductive fibers, their market share is destined to greatly increase.
The Conductive Fiber Manufacturers Council was conceived in 2007 as a result of growth and fragmentation in the industry and too little information being readily available to engineers and designers about conductive fibers and fabrics. After talks with industry leaders, Hugo Trux who has experience in marketing and production of a conductive fiber recently launched the Council as a trade association.
The Council's benefits and strategic plan includes:
Ability to speak with one voice re regulatory, standardization issues
Developing standardized product testing and reporting standards to define and measure our products in a uniform manner to facilitate specifications, utilization, and discussion in the engineering and manufacturing world.
The Wonderbra brand is busting women’s bra blahs with its new Statement Makers collection, featuring two new T-shirt bra styles including a push-up and demi underwire. Now available at retailers nationwide, these new bras come in a variety of contrasting, playful colors and exciting prints that say anything but ho-hum.
"Wonderbra is known as the enhancement experts and the new Statement Makers line addresses women’s passion for style by creating a look that is confident, flirty and fun," says Ashley Hayzlip, Wonderbra brand manager. "Colorful patterns and bold prints allow her to draw attention and make her statement, without saying a word."
The new Wonderbra Statement Makers collection provides women with two new styles in on-trend colors like rich lapis, pink punch and sugar-dusted berry that will amp up any wardrobe. These new styles are:
Wonderbra T-shirt Push-up Underwire Bra: Comfortable push-up with a deep, plunging neckline that is sure to enhance even the most basic outfit.
Wonderbra T-shirt Demi Underwire Bra: Smooth cups and a lightweight feel provide contoured shaping that is virtually undetectable under the tightest of tees.
After creating a fashion sensation in the U.K., the Wonderbra brand made its U.S. debut in 1994 with the Push-Up Plunge Bra. An instant phenomenon, this Wonderbra style sold at a rate of one every 15 seconds, quickly becoming the nation's top selling push-up bra. The Wonderbra brand is owned by Hanesbrands Inc. and/or its affiliates.
As the global automotive industry continues its resurgence, General Motors took time to celebrate its tremendous momentum with the annual GM Supplier of the Year ceremony. The event took place at the GM World Headquarters located at the Renaissance Center in Detroit, Michigan, and was hosted by GM Chairman and CEO, Dan Akerson.
This year brought about an unprecedented accomplishment for Takata Corporation, as it was the first time in the award's rich history that one individual supplier received the award for all three safety-related products: Airbags, Steering Wheels and Seat Belts. Takata Corporation President and COO, Shigehisa Takada, was in attendance from Tokyo to personally receive the award and recognize the special relationship between Takata and GM.
"Since our founding more than 75 years ago, Takata has dedicated our entire focus to the safety of human life leading to providing drivers and passengers of motor vehicles the most technically advanced protection from injury available -- and ultimately to saving lives," said Shigehisa Takata.
"Being recognized by a global automotive titan like General Motors as Supplier of the Year in all three safety related areas is a true honor, and an acknowledgment of the commitment we have to working as one with our customers to help make the safest vehicles available in the world."
Takata Corporation is one of the world's leading suppliers of advanced automotive safety systems and products. Its customers include nearly every automotive manufacturer and several Tier One suppliers. Its technology features a strong emphasis on safety restraint systems, seat belts, air bags, safety electronics, interior trim, and special fabrics and textile materials.
China International Clothing & Accessories Fair (CHIC) has been co-organized by China National Garment Association, China World Trade Center Co., Ltd, and Sub-council of Textile Industry of CCPIT annually in Beijing, China since 1993. CHIC 2011, which is the 19th session, will be held in the new China International Exhibition Center on March 28-31, 2011.
In the 18 years since its establishment, CHIC, the most important fashion exhibition in Asia, has grown into a prestigious fashion event that serves as a platform of brand exhibition and trade with unmatched business values and industrial and social influences. Every year, 1000-odd brand exhibitors and thousands of fashion buyers come from countries and regions around the world. Presenting the pioneering products and service, CHIC is not merely a fair but a comprehensive event, integrating "China Garment Brand Annual Awards", "CHIC Shows", "China Garment Forum" and "Fashion Trends Release" etc.
The fair each year invites franchisers, dealers and distributors around China, Asia, and even the world, and organizes various kinds of distinctive activities. At CHIC, the participants not only have their business targets achieved but also acquire considerable information on market, management, business mode and other aspects. With the increasing sense of fashion, various cultural, artistic and creative integration of transboundary resources has also made CHIC the focus of the fashion industry every March as well.
The fair this year covers an area of 110,000 square meters, and is divided into 11 professional exhibition areas: men's wear, women's wear, casual wear, kids' wear, underwear, leather/fur, down wear, fashion accessories, fashion information, original design and overseas pavilion.
There are 1000 brands from 19 countries and district, that is China Mainland, Italy, France, Germany, Austria, England, Spain, Norway, Greece, Turkey, the U.S.A, Canada, Japan, Korea, Singapore, India, China Hong Kong, China Macao and Taiwan province. More than 40 activities are organized and approximately 100,000 visitors will come to the exhibition.
CHIC is not only an exhibition or a service provider, but also a guide, a strength to push the whole industry to develop, push every participator (including enterprises, brands, business, buyers, designers, agents, etc.) to develop faster In March 2011, "CHIC For New" will launch soon...
