Hong Kong-based global supply chain management company Li & Fung has entered into a new strategic partnership with Tommy Hilfiger and Calvin Klein owner PVH Corp.
The partnership will allow Li & Fung to apply its expertise and technology to the US brand house’s supply chain.
The agreement replaces the current non-exclusive buying agency agreement between the two companies. It is expected to complete on 1 July.
Daniel Grieder, chief executive of Tommy Hilfiger Global and PVH Europe, said: “Our focus is to create a more effective and efficient supply chain that will enable us to adapt and evolve, so we can stay ahead in our rapidly changing industry.
“This transformation in our sourcing strategy is an important step in our initiative to improve speed to market and for the faster integration of consumer insights into our new collections.”
Spencer Fung, group chief executive of Li & Fung, added that the alliance would give it “the opportunity to create what we see as the supply chain of the future”.