Multinational supply chain solutions company Li & Fung has announced that it has acquired Orrsum, a UK-based supplier of loungewear, innerwear and hosiery.
Established in 1998, Orrsum is renowned for its extensive product knowledge, agile development methodology, and solid client relationships. It supplies more than 5,000 retail locations worldwide with more than 50 million pairs of socks per year.
This is Li & Fung’s first acquisition since its 2020 privatisation and its first in more than ten years.
Joseph Phi, Group CEO of Li & Fung, stated that the company’s future growth will be driven by a combination of disciplined organic expansion and selective acquisitions aimed at strengthening its platform and extending its category leadership. He noted that the recent acquisition reflects Li & Fung’s renewed momentum, achieved through enhanced product specialization and the continued leverage of its resilient, technology-enabled, and customer-centric global supply chain.
Destan Bezmen, President of Li & Fung Europe, described the acquisition as a major milestone in advancing the company’s growth strategy. He highlighted that the combination of Orrsum’s category leadership and product development expertise with Li & Fung’s digital infrastructure and global reach will enable the scaling of high-demand categories, expansion of the customer offering, and improved speed and flexibility of execution across markets.
CEO William Orr will continue to serve as Orrsum’s leader and oversee operations as part of Li & Fung Europe, guaranteeing company continuity and a smooth transition within Li & Fung’s worldwide network. Utilising Li & Fung’s AI-powered digital infrastructure and sourcing network in 40 economies, the company will increase supply chain agility, speed-to-market, and reach new markets and distribution channels.
Li & Fung has already acquired several companies in the apparel and textile sphere.
For instance, in 2008 it acquired MILES Fashion, a German apparel manufacturer. In 2009, the company acquired Wear Me Apparel, LLC a designer, marketer and seller of young men’s and children’s apparel in the US via its subsidiary LF USA.
In 2010 LF USA acquired Oxford Apparel which produces branded and private label products including men’s dress shirts, suited separates, sport shirts, casual slacks, outerwear, sweaters, jeans, swimwear and western-wear.
Also in 2010, it acquired UK-based Visage Group Limited which manufactures men’s, ladies’ and children’s wear, as well as Hong-Kong based HTP Group, a jeanswear specialist and US-based Jimlar Corporation, a footwear manufacturer.
Loyaltex Apparel, a US-based sourcing and development company specialized in knits, woven/denim and sweater, TVMania, a leading Pan-European supplier of character licensed and branded merchandize with the company’s main product categories being casual, nightwear and underwear, Hampshire Designers, the women’s division of Hampshire Group Limited in the US for women’s knitwear and woven product offerings, were all acquired by the company in 2011.
In 2017 Li & Fung formed a joint venture with South Ocean Knitters Holdings Limited to combine the operations and resources of Li & Fung’s sweater vertical together with South Ocean’s knitwear business, called Cobalt Fashion Holding Limited.
