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Li & Fung thrived as a sourcing agent for western retailers but now faces headwinds. To revive its fortunes Chairman William Fung, left, and CEO Spencer Fung plan to take the company private. (Nikkei Montage/Source photo by Getty Images)
Business Spotlight

Hong Kong's Li & Fung plots future as global supply chain frays

Century-old business icon pounded by e-commerce, coronavirus and protectionism

NIKKI SUN, Nikkei staff writer | Hong Kong

HONG KONG -- Even though Li & Fung had been a Hong Kong fixture for more than a century, CEO Spencer Fung never anticipated a cushy job when he took over the world's largest sourcing company in 2014.

Still, the problems plaguing the company's sprawling empire, built to connect retailers in the West with manufacturers in the East, have rapidly multiplied.

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