Li & Fung Announces New Supply Chain Agreement With PVH Corp Tiffany Ap HONG KONG — Li & Fung has agreed to a new strategic partnership with PVH Corp in what the sourcing company hopes will create the "supply chain of the future." Although the details of the agreement were vague, the two parties said on Friday that Li & Fung will provide "additional value-added services to PVH" focused on "applying the latest technology and knowhow into the PVH supply chain." "We've had a long-standing relationship with PVH and we're excited to continue building on that under this new strategic partnership where we'll have an opportunity to create what we see as the supply chain of the future," Spencer Fung, chief executive officer of Li & Fung, said in a statement. Related: PVH Wants to See Retail "Romance" in Online Shopping The agreement will replace an existing non-exclusive buying agency agreement between them which is expected to end on July 1. Among the new stipulations, PVH will be obligated to source certain Calvin Klein Jeans products and at least 54 percent of certain Tommy Hilfiger products through Li & Fung. "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," said
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