E-commerce
With the startup of lifung.com the two entrepreneurs, William and Victor Fung were worried about a myriad of problems that could plague the new section of Li & Fung. As William Fung stated, ?I?m 51, I?m more than a grey hair in Internet terms, I?m a fossil?. After all, lifung.com would not be a typical Internet startup, springing from a almost 100 year old company started at the end of the Qing dynasty in 1906. Both William and his brother Victor are graduates of Harvard Business School and have managed to transform Li & Fung from a family owned business to a professionally managed firm with outstanding growth and potential.
Li & Fung is facing the challenge of opening up a web portal, lifung.com, and not interfering with the more traditional day to day business that is well established in the market. Li & Fung is a company that does over $3 billion in assets. It has grown both organically and through strategic acquisitions. It does business in over 30 countries with outstanding growth potential. Run in a entrepreneurial manner allowing managers to manage teams much like individual companies. Li & Fung
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