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On 1/21/2014 ballinmom said:
On 1/21/2014 stevieb said:

I believe the company is now owned by an Asian conglomerate. Why would they make their bags anywhere else?

Can you post a link? I couldn't find anything in the public record about a sale.

It's old news, ballinmom. Here's the article about from Forbes back in 2008 (and here is the LINK):

8/13/2008 @ 6:50PM

Li & Fung Scores Van Zeeland

Hong Kong-based consumer goods exporter Li & Fung is buying its way to increased market share, one acquisition at a time.

On Wednesday, Li & Fung announced it bagged Van Zeeland, positioning it to become a leading U.S. handbag supplier and deepening its presence within the fashion accessories market. For 2.6 billion Hong Kong dollars ($330.0 million), the company will acquire the handbag importer’s assets including flagship labels: Kathy Van Zeeland Handbags, B. Makowsky and Tignanello. Li & Fung also offered additional, undisclosed incentives based on company performance.

More than 1,300 retailers stock Van Zeeland brands, including Macy’s and JC Penney . The acquisition announcement came after the close of Hong Kong’s trading session, where Li & Fung’s stock closed down by 3.0%, or 80 Hong Kong cents (10 U.S. cents), at 26.20 Hong Kong dollars ($3.36).

Li & Fung, which counts major U.S. retailers like Target and Wal-Mart among its customers, said difficult economic conditions haven’t derailed the company from its three-year plan to raise sales to $20.0 billion and achieve an operating profit of $1.0 billion by 2010. Last year, its revenue was $11.8 billion (92.5 billion Hong Kong dollars) and operating profit came it at $409.6 million (3.2 billion Hong Kong dollars). The company has been acquiring large and small companies to broaden its product base and further its geographic expansion.

The company also reported its first half results on Wednesday. Net earnings climbed 18.0%, to 1.2 billion Hong Kong dollars ($153.7 million U.S. dollars) didn’t meet analysts’ estimate of 1.3 billion ($166.5 million) since consumer spending was weak. The company’s increased market share boosted sales by 25.0%, however, to 47.4 billion Hong Kong dollars ($6.1 billion) and the board proposed an interim dividend of 24 Hong Kong cents (3 U.S. cents) a share, up from 21 Hong Kong cents (2.7 cents) in the same period last year.

During the six-month period, the company completed six acquisitions and secured more than five outsourcing deals with Toys ‘R’ Us, Sanrio, Timberland, Kellwood and others. Soaring commodity costs have made companies desperate to pare costs, which bodes well for Li & Fung.

The company acquired Hong Kong-based women’s clothing companies Silvereed Group and Wilson & Wong Trading to lure more fashion-conscious customers to its portfolio. It also acquired two personal health and cosmetics companies to deepen its footprint in the beauty sector during the quarter. Li & Fung credits acquisitions with helping to grow its European business to 30.0% from 23.0% during the same period last year.

“Our growth will continue to reflect the strong growth momentum driven by both organic business expansion and our acquisitions,” said Managing Director William Fung William Fung , commenting on the company’s outlook. “We also expect the strong pipeline of outsourcing deals to continue to provide new sources of growth for the rest of the year.”

Kathy Van Zeeland and Bruce Makowsky will remain co-presidents of the Van Zeeland businesses, Li & Fung said.

Reuters contributed to this article.


~Who in the world am I? Ah, that's the great puzzle~ Lewis Carroll, Alice in Wonderland
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Registered: ‎03-22-2012
On 1/22/2014 suzyQ3 said:
On 1/21/2014 ballinmom said:
On 1/21/2014 stevieb said:

I believe the company is now owned by an Asian conglomerate. Why would they make their bags anywhere else?

Can you post a link? I couldn't find anything in the public record about a sale.

It's old news, ballinmom. Here's the article about from Forbes back in 2008 (and here is the LINK):

8/13/2008 @ 6:50PM

Li & Fung Scores Van Zeeland

Hong Kong-based consumer goods exporter Li & Fung is buying its way to increased market share, one acquisition at a time.

On Wednesday, Li & Fung announced it bagged Van Zeeland, positioning it to become a leading U.S. handbag supplier and deepening its presence within the fashion accessories market. For 2.6 billion Hong Kong dollars ($330.0 million), the company will acquire the handbag importer’s assets including flagship labels: Kathy Van Zeeland Handbags, B. Makowsky and Tignanello. Li & Fung also offered additional, undisclosed incentives based on company performance.

More than 1,300 retailers stock Van Zeeland brands, including Macy’s and JC Penney . The acquisition announcement came after the close of Hong Kong’s trading session, where Li & Fung’s stock closed down by 3.0%, or 80 Hong Kong cents (10 U.S. cents), at 26.20 Hong Kong dollars ($3.36).

Li & Fung, which counts major U.S. retailers like Target and Wal-Mart among its customers, said difficult economic conditions haven’t derailed the company from its three-year plan to raise sales to $20.0 billion and achieve an operating profit of $1.0 billion by 2010. Last year, its revenue was $11.8 billion (92.5 billion Hong Kong dollars) and operating profit came it at $409.6 million (3.2 billion Hong Kong dollars). The company has been acquiring large and small companies to broaden its product base and further its geographic expansion.

The company also reported its first half results on Wednesday. Net earnings climbed 18.0%, to 1.2 billion Hong Kong dollars ($153.7 million U.S. dollars) didn’t meet analysts’ estimate of 1.3 billion ($166.5 million) since consumer spending was weak. The company’s increased market share boosted sales by 25.0%, however, to 47.4 billion Hong Kong dollars ($6.1 billion) and the board proposed an interim dividend of 24 Hong Kong cents (3 U.S. cents) a share, up from 21 Hong Kong cents (2.7 cents) in the same period last year.

During the six-month period, the company completed six acquisitions and secured more than five outsourcing deals with Toys ‘R’ Us, Sanrio, Timberland, Kellwood and others. Soaring commodity costs have made companies desperate to pare costs, which bodes well for Li & Fung.

The company acquired Hong Kong-based women’s clothing companies Silvereed Group and Wilson & Wong Trading to lure more fashion-conscious customers to its portfolio. It also acquired two personal health and cosmetics companies to deepen its footprint in the beauty sector during the quarter. Li & Fung credits acquisitions with helping to grow its European business to 30.0% from 23.0% during the same period last year.

“Our growth will continue to reflect the strong growth momentum driven by both organic business expansion and our acquisitions,” said Managing Director William Fung William Fung , commenting on the company’s outlook. “We also expect the strong pipeline of outsourcing deals to continue to provide new sources of growth for the rest of the year.”

Kathy Van Zeeland and Bruce Makowsky will remain co-presidents of the Van Zeeland businesses, Li & Fung said.

Reuters contributed to this article.

My bad StevieB, I thought the reference was to D & B. I knew about the others.

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Just an FYI about bags made in China...even Louis Vitton and Prada, among others have factories over in China.
This article is from 2010. Louis Vuitton started building their factory in China in 2007.
Luxury Clothing Brands Cover Up Outsourcing Production to China
22/08/2010 18:25:00 Kanzhongguo staff
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World-class brand Prada recently upped its share price in an effort to block a Chinese business tycoon from becoming its largest shareholder, according to a report published in China’s state-run Economic Observer newspaper.
Lu Qiang, the chairman of Shanghai-based garment factory Foxtown, told the newspaper,"(Prada thought) handing over the company to the Chinese would hurt the quality and taste."
However, many luxury brand companies, including Prada, have contract manufacturers (CM) in China bound to secrecy by a non-disclosure agreement.
Many luxury brands have CMs all over the world, but avoid disclosing anything about their overseas manufacturers, and are especially prudent in selecting manufacturing locations because of concerns over consumer confidence, industry insiders say. Nevertheless, the low-cost labor and transportation in developing countries is still an irresistible temptation. After weighing the pros and cons, many luxury brands still chose to outsource their production abroad and seal off the information by signing non-disclosure agreements with their CMs.
Many Asian countries, like China, Vietnam, and Malaysia, became the first choice for outsourcing for many luxury brands. In southern China especially, CMs for luxury products have become common, but they kept very low profile to escape public attention.
A source inside the industry says many world-class luxury brands have long since set up production lines in China. Louis Vuitton started building a manufacturing base in Hangzhou, Zhejiang Province, in early 2007; Zhejiang Sun Hong Garment Co. has been making some of Giorgio Armani’s product lines; and one of China’s largest garment companies, Jiangsu Sunshine Group, is the secret manufacturer for Hugo Boss.
Manufacturing outsourcing in China can be divided into two categories: finished product outsourcing and process outsourcing. Authorized manufacturers in China must sign non-disclosure agreements with the big brands, but as part of their branding strategy the luxury brands never sell their Chinese-made products in China.
Wealthy consumers often pursue those luxury products simply because of their brand names and high prices. To protect their status among the elite, many luxury brand companies with CMs in remote locations in Asia try to cover up that they make their products overseas.
Factories in almost all developing Asian countries are now taking orders from luxury fashion companies. Outsourcing to make a garment, however, is not that simple. Different parts of the garment will be outsourced to different countries. Then all components of the garment are shipped to somewhere, like Hong Kong, to get assembled. Then the finished garment is shipped to those places boasting fashion, like Italy, France or Spain. For the CMs themselves, working for the luxury brands can be strenuous, because of the stringent quality inspection demanded by the luxury companies.
More - and don't think your bags are handmade - or that even if made in France - aren't made in sweatshops: http://www/koreatimes.co.kr/www/news...123 91979.html
To quote it: "But underlying the consumers' concern is the lack of transparency; there is no easy way of knowing how each brand is evolving and how each product was manufactured. While the fashion houses are adamant that their brands are the ultimate proof of quality, semi-finished products moving to the traditional European nations to be stamped "Made in France"or "Made in Italy" show that they, too, recognize the trademark's value for customers, justifying their mark-ups. Until then, shoppers are being advised to do more research about exactly what they are purchasing, a hollow glossy image of tradition or a true piece of artisanship."
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It's sad to think a country that once was so strong, a leader, a place everyone wanted to go to, is own by China...lol..but like someone post..I also try and buy American when I can, I also still support mom and pop shops even if I have a pay a little more..

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...yes...it's time to beat that old drum again.

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On 1/21/2014 TY said:

Even bags that say they are made in Italy may only have the name plate attached in that country while the rest of the bag is made offshore somewhere else.

Most handbags are made in China nowadays.

This.

If they made the 2012 US Olympics Team uniforms in China, why is anyone surprised that handbags are made there. (The 2014 team uniforms have been made in the US, but only because of the uproar made after the 2012 fiasco.)

The US economy has moved from a manufacturing industry to a service industry. It's a problem, because it means there's a huge unemployment gap for uneducated or unskilled laborers and it's one of the reasons there are middle-aged parents who are working as career cashiers at McDonald's and other low wage companies.

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Posts: 76
Registered: ‎11-13-2013
On 1/20/2014 lunaloca said:

We need to stop buying.i so agree..but its like swimming against the tide!

my latest surprise was a michele albala gorgeous ring i bought on shopnbc..made in china!!