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HK's Li & Fung sets up China JV, targets 300 stores

2015-06-23 13:13:49| Logistics - Topix.net

Global exporter Li & Fung Ltd has formed a joint venture with two Chinese department store operators, with the aim of setting up as many as 300 stores and developing its own private labels, the Hong Kong firm said on Tuesday. The firm will own 20 percent of the joint venture, while Beijing Wangfujing Department Store Group Co Ltd and Shanghai Bailian will each hold a 40 percent stake.

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