Li & Fung, which trades convenience chain Circle K in Hong Kong, announced a strategic investment from JD.com to further develop its digital supply chain.
The “supply chain of the future”
Li & Fung has been working on creating the “supply chain of the future”, which is centred around speed, innovation, and digitalisation, and aims to help its customers navigate the digital economy.
JD.com’s investment of US$100 million is set to accelerate the development of the “supply chain of the future”. In addition, the partnership will allow Li & Fung to grow its private label business in China by leveraging its global network and digital supply chain.
JD’s position as a leading supply chain-based technology and service provider fits well with Li & Fung’s goal of creating the “supply chain of the future”.
Spencer Fung, CEO of Li & Fung, commented: “Our goal to create the Supply Chain of the Future and to improve the lives of one billion people in our global supply chain remains more relevant than ever in this turbulent world. The partnership with GLP and the addition of JD will be instrumental in further strengthening Li & Fung.”