Word: rockowitz
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...brands as Professional Bull Riders Inc. and Catwoman. Eradicating the middleman role for some products could open up other opportunities for the firm too. "This will help us do business with certain retailers in the world which we haven't been able to before--like Wal-Mart," says Bruce Rockowitz, president of Li & Fung's trading division. The Fungs "tend to be visionary," says Paul McKenzie, head of consumer research in Hong Kong for investment bank CLSA, "and get positioned early for change...
Think of Hong Kong's traders as the world's matchmakers. "We're the search engines to find the best place in the world" to buy a product, says Bruce Rockowitz, president of Li & Fung's sourcing business. With 72 sourcing offices in 41 countries, Li & Fung can tap into more than 8,000 factories making anything from carpets to dog brushes. In 2006 alone, the company was involved in the production and shipment of some 2.4 billion shirts, toys and other consumer goods--an amount that has quintupled since 1999. "We're creating a world that is flat," says...
...Think of Hong Kong's traders as the world's matchmakers. "We're the search engines to find the best place in the world" to buy a product, says Bruce Rockowitz, president of Li & Fung's sourcing business. Let's say you're an executive at a major U.S. fashion retailer looking to fill its racks with a spring collection. Stop by the offices of Li & Fung in Hong Kong's Kowloon district and its staff will track down the best fabrics, buttons and other components at the best prices and hire the right manufacturers to sew the clothes together...
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