CFDA AND LF USA ANNOUNCE STRATEGIC PARTNERSHIP

Strategic Partner to Brands and Retailers Becomes Newest Member of the CFDA’s Business Services Network

New York, N.Y., December XX, 2011 – LF USA, a subsidiary of Hong Kong-headquartered Li & Fung Limited, the multinational consumer goods export and logistics group, announced today that it has entered into a strategic partnership with the Council of Fashion Designers of America (CFDA).

“The CFDA and its members are the driving force in American fashion,” said Rick Darling, President of LF USA. “We are incredibly excited to be a part of this influential organization as we look to deepen our relationships with U.S.-based designers. Our partnership with the CFDA and its Business Services Network and its commitment to providing strategic business opportunities to its members are key to further strengthening our position as an innovative, design-driven fashion company.”

LF USA has extensive fashion experience working closely with established and emerging designers both CFDA members as well as internationally to create unique and differentiated retail collaborations including having launched Vera Wang for Kohl’s; Kinder Aggugini, Mathew Williamson, Karl Lagerfeld and Giambattista Valli for Macy’s; as well as Carlos Falchi, and Rachel Zoe. As a strategic partner, LF USA will offer its extensive global resources and deep retail relationships to nurture the growth of CFDA members; creating opportunities at retail while providing global exposure and reach for their brands. The partnership will also include business programs that will give back to CFDA.

“We are excited about the possibilities of our partnership with LF USA.” said CFDA President Diane von Furstenberg. “They understand creativity and vision and are seeking design expertise from CFDA members.”