Delvaux in talks with Li & Fung
05/08/2011
Reports from Belgium say 180-year-old Brussels-based Delvaux is in exclusive talks with the Li & Fung Group. The proposal is that Li & Fung could take a majority shareholding in the Belgian company, supplying it with enough capital to fund an overseas expansion.
Delvaux started out by manufacturing travel goods for the local nobility in the nineteenth century, and moved into high-end fashion handbags in the twentieth century. Until 2010 Delvaux produced all its leathergoods in Europe, at facilities in France and Romania as well as at its main production hub in Brussels. However, last year it opened its first manufacturing facility in Asia, in Ho Chi Minh City in Vietnam.
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