Global supply chain manager Li & Fung Limited has
inked a joint venture with knitwear exporter South
Ocean Knitters which will give it the status of one of
the largest suppliers of the global knitwear sector.
Hong Kong-based Li & Fung tied up with Tommy Hilfiger
and Calvin Klein owner PVH in a supply chain deal earlier
this year. The joint venture, Cobalt Fashion Holding Limited,
will be owned 62 per cent by Li & Fung and 38 per cent
by South Ocean. The JV will combine the operations and
resources of Li & Fung’s sweater vertical together with
South Ocean’s knitwear business to become one of the largest
knitwear suppliers globally.