Li & Fung and Hudson's Bay ink global sourcing partnership

Hong Kong-based exporter and consumer goods supply chain management firm Li & Fung (Trading) Company and the Hudson's Bay Trading Company have announced a global sourcing strategic partnership for Hudson's Bay's four main retail banners, the Bay, Zellers, Home Outfitters and Lord & Taylor.

According to Jeff Sherman, chief executive officer, Hudson's Bay Trading Company, the consolidation of the company's global sourcing requirements and activities into one North American shared services group is expected to improve operating effectiveness of each of the retail brands.

"The signing of buying agency agreement with Li & Fung complements our shared services strategy to consolidate and align global sourcing needs into one group for all of our banners," he said.

Mr. Bruce Rockowitz, president of Li & Fung, said: "We are delighted to see the execution of this outsourcing deal with one of the oldest companies and one of the leading retail groups in North America."

The new buying agency arrangement with Li & Fung will go into effect in 2010.

Li & Fung Limited is the world's leading consumer goods supply chain management company, managing the supply chain for retailers.