Castling Group and LF International to Join Forces on Internet Opportunities; Castling Group and Li & Fung Ltd. Enter Strategic Partnership.Business Editors/High-Tech Writers SAN FRANCISCO--(BUSINESS WIRE)--March 23, 2000 Castling Group, an e-business accelerator that has helped build leading e-commerce sites such as jcrew.com and hifi.com, today announced the closing of a strategic investment and partnership with LF International, the venture capital arm of Li & Fung Limited. Michael Hsieh, President of LF International, stated, "I am very excited at the prospects of this partnership. Castling Group brings tremendous experience and credibility to our efforts at Li & Fung and for our portfolio companies to move quickly into the Internet market space." "We are delighted with this new Li and Fung partnership," added John Suh, founder and Chairman of Castling Group. "Li and Fung's dominant market position in the consumer goods consumer goods Any tangible commodity purchased by households to satisfy their wants and needs. Consumer goods may be durable or nondurable. Durable goods (e.g., autos, furniture, and appliances) have a significant life span, often defined as three years or more, and supply chain, established relationships with leading suppliers and buyers, and world class senior management make them an invaluable asset to the development and execution of e-commerce businesses." Suh continued, "We have experienced first-hand the intense commitment of Li and Fung's senior management to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. their Internet opportunities, and look forward to a long and exciting partnership." About Castling Group Castling Group, with offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden and Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , is one of the fastest growing e-business accelerators. It specializes in building online businesses by strategically aligning with established offline companies and entrepreneurs in the B-to-C and B-to-B e-commerce sectors. Castling offers a complete set of capabilities, including e-commerce execution expertise, interim general management, incubation facilities, and investment capital, resulting in a tightly aligned partnership to quickly and efficiently build Internet businesses. For further information about the Castling Group (http://www.castling.com), contact Samantha Cho at 877/722-7854 Ext. 207 or email info@castling.com. About Li & Fung International LF International is the venture capital arm of Li & Fung Limited, a global consumer products sourcing company that is listed on the Hong Kong Stock Exchange The Hong Kong Stock Exchange (Traditional Chinese: 香港交易所, also 港交所; abbreviated as HKEX; HKSE: 0388 ) is the stock exchange of Hong Kong. (http://www.lifung.com). LF International (http://www.lfvc.com) provides equity capital and consumer product sourcing expertise to companies in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Europe. For further information about LF International, contact Mindy Chiang at 415/399-0110. |
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