HONG KONG -- Li & Fung, the world's largest sourcing company, has teamed up with Chinese e-commerce giant JD.com as it moves to bring its global supply chain business more into the digital era.
The 114-year-old family business said on Friday that it had received an investment of $100 million from JD.com through an issuance of new shares at 1.25 Hong Kong dollars each. The investment will give JD.com a stake of about 6.7% in Li & Fung, according to Nikkei's calculation. The group's founding family will retain the control of the company, with 60% of the voting shares.
