Li & Fung, the multinational group headquartered in Hong Kong, recently held its vendor summit 2019, in which India’s leading home textile company Welspun Global Brands was honoured with the ‘Most Innovative Award’ under the product innovation category.
The award is in recognition of its extraordinary achievements in continuous product innovation.
Welspun Global Brands is amongst the top three global manufacturers of bed and bath linen.
Harish Ahuja, MD, Shahi Exports and Keyur Parekh, Global Sales Head-Retail & Hospitality at Welspun Group also addressed the summit as a panellist.
After China and Vietnam, India is the third largest sourcing destination for Li & Fung, while Bangladesh and Indonesia are in the fourth and fifth positions, respectively. Overall, the company is sourcing from 50 countries, and as of India is concerned, Li & Fung sources around 67 per cent of hard goods and 33 per cent soft goods from the country. The company shared insights on its three-year plan progress with the focus on new ways of working and digital journey. Around 100 CXOs or owners of Li & Fung suppliers took part in the summit.
It works with around 1,000 factories in India.
Last year, Li & Fung, carried out training programmes in more than 100 factories in the country besides piloting smart factory project, which has a larger focus on energy saving, in many other units.
Deepika Rana, President of Supply Chain Solutions, is leading Li & Fung in India, since the last 16 years.
The company has a global network of 10,000 suppliers to serve around 2,000 customers worldwide.