HOFFMAN ESTATES, Ill. and HONG KONG and GURGAON, India – Transform Holdco LLC (together with its subsidiaries) has partnered with Li & Fung and Triburg in a deal that will provide the company’s apparel business unit with innovative global sourcing practices that are expected to result in reduced lead times and greater efficiencies for bringing product to market at Sears and Kmart.
These partnerships will support one of Transform’s top priorities in effectively managing and improving the operating performance of its apparel business. Terms of the partnerships were not disclosed.
“With increasing volatility in the global trade environment, it’s vital to have a supply chain that is more nimble and flexible while simultaneously opening new avenues for managing product costs,” said Greg Ladley, president of Softlines and a member of the Office of the CEO, Transform.
“That’s why we are proud to partner with Li & Fung and Triburg, two world-class organizations that will provide us with the necessary global reach, consumer insights, trend analysis and digital design capabilities to enhance our supply chain in real time. Transform welcomes the opportunity to partner with companies that are driven by data, analytics and deep learning to accelerate the company’s transformation as a leading integrated retailer.”
Li & Fung and Triburg will act as sourcing agents and design partners for all Sears and Kmart apparel brands, including Jaclyn Smith, Joe Boxer and Everlast.
“We are excited to be part of Transform Holdco’s journey of transformation,” said Fanny Cheng, president, Supply Chain Solutions at Li & Fung.
“By leveraging our global network of over 50 production countries and industry-leading digital capabilities, we will be able to provide end-to-end visibility across the supply chain and enable the Transform team to respond quickly to changing market conditions.”
“We are delighted in having forged a vibrant sourcing partnership with Transform Holdco,” said Tarun Bakshi, CEO, Triburg.
“Triburg brings cost optimization, innovative business practices, expertise in design and product development, supported by latest 3D technology in facilitating value creation in the Sears and Kmart supply chain. The Triburg model of speed and innovation being exceptional will strongly contribute to the growth of the Sears and Kmart business in the current retail environment.”