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93. Victor Fung, honorary chairman, Li & Fung

Victor Fung

Position last year: 94

There is no major rise up the list for Victor Fung, honorary chairman of global supply group Li & Fung, this year. The Asian supplier to global retailers such as Marks and Spencer, saw its operating profits fall to $182m (£121m) in the first six months of 2015 as turnover dipped 1% to $8.6bn (£5.6bn). The business, like many others, was hit by the weak euro as well as the slowdown in China.

In October Gieves & Hawkes, the Savile Row tailor the business bought in 2012, also revealed it was in a “weak” position after it continued to lose money last year despite rising sales. However, progress continued to be made in its collaborative clothing venture with sport and fashion icon David Beckham (number 66).and his business partner Simon Fuller via Li & Fung subsidiary Global Brands.

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