Li & Fung and First Insight Team Up, Eyeing the Future of Supply Chain

December 12 2019 by Arthur Zaczkiewicz for Women's Wear Daily

The merged capabilities offer brands and retailers reduced costs, better sell-through and improved speed to market.

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Spencer Fung, ceo of Li & Fung, expressed confidence the group's digitization strategy was working.

Li & Fung and First Insight have inked a deal to offer retailers and brands an “end-to-end digital product development solution.” In a joint statement, the companies said the agreement involves integrating First Insight’s Voice of the Customer analytics into Li & Fung’s Digital Product Development solution, thereby “enabling brands and retailers to select, price and buy designs with greater confidence, increasing sell-through and reducing markdowns.”

Terms of the deal were not disclosed.

The announcement was made as Li & Fung articulates its vision in creating the “supply chain of the future.” The company said it is developing “a fully-integrated digital supply chain platform that connects brands and retailers with suppliers and other partners seamlessly with end-to-end data capture and visibility.”

Read the Full Article at WWD

partnership  retailers  analytics  voice of the customer  design  Reduce Markdowns  Set Entry Price Points  supply chain challenges  3D Design  partnerships  data analytics  supply chain  digital product testing  price optimization  Li & Fung  sell through  digital supply chain solution

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