Global Brands’ spinoff listing on the Hong Kong Stock Exchange took place with more than the usual pomp and ceremony on Wednesday, with Bruce Rockowitz, the CEO and vice chairman of Global Brands, and William Fung, chairman of Li Fung, striking the gong to ring in its debut trade.
The listing also saw the appearance, in front of a crowd of journalists and bankers, of Hong Kong-born singer Coco Lee, who is also Rockowitz’s wife both pictured below.
However, behind the glitz, the spinoff listing takes away the conflict that existed between Li Fung’s role as a middleman, sourcing materials for customers such as Wal-Mart and Target, and its own...
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