Li & Fung acquires May Trading UK

Li & Fung, the Hong Kong-based global supply management group, has acquired May Trading UK, clothing supplier to high street labels such as Primark, Next and Topman out of administration.

The Hong-Kong group also acquired MA Hong Kong, May Trading's partner company as part of the agreement as well as the sales and merchandising staff including co-founder Jason Marchant, according to Drapers.

May Trading is now one of the three companies which are held by Li & Fung Europe, including Visage and Just Jamie, a London-based manufacturer. Both company currently design and produce menswear, womenswear as well as childrenswear for UK retailers.

The clothing supplier and its sister company first went into administration on October 31, after millions of dollars were said to be have been stolen from their Bangladesh factory by a shareholder and a director of the supplier's Au's Dhaka factory AMCS.

Li & Fung, which generated revenues of 8.7 billion dollars (5.6 billion pounds) in the first six months of this year, is the world's largest supplier of clothes and toys to retailers. The group has already acquired a number of UK labels and suppliers over the past years through its various partnerships.