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There’s no doubt that the current state of the economy and the dollar is dropping by the day, but not all businesses in the apparel industry are suffering. Li & Fung an apparel sourcing giant boosted sales to $11.85 billion with profits soaring to $408.6 million the strongest gain posted in seven years.

Li & Fung is based out Hong Kong where they source apparel, accessories, and footwear throughout Asia and has over 80 offices in more than 40 countries.

There three year plan is to grow profits to $1 billion while increasing sales to $20 billion by year 2010…not a bad goal if achieved.

To me its fascinating seeing the gap between sales and actual profits when dealing with the apparel industry. There is usually such a wide gap, because operating cost are far greater than in most industries. Considering that you can run a site generating $20,000 a month on the internet and operating cost being only $200-$500 depending on the type of site and hosting…notice most of the sales are pure profit.

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