Royal Velvet licenses name to Li & Fung.
Home Textiles Today, January, 2004
HONG KONG -- Heading east with much of America's textiles manufacturing, the Royal Velvet nameplate, perhaps the most profitable nameplate in all of home fashions is about to be licensed to Li & Fung Ltd., a $4.8-billion Hong-Kong-based consumer goods trading company.
Li & Fung, a Chinese holding company with interests in apparel, home fashions toys, shoes and sporting goods, said its Li & Fung Trading (Shanghai) unit will design, produce and distribute home textiles and home decor products under the Royal Velvet franchise. The process will take place on a worldwide basis, with products hitting the market as soon as this fall.
The Chinese company said it has signed an agreement for use of the Royal Velvet brand from New York-based Group 3...
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