Li & Fung hires industry vet, finalizes Cannon deal
Michael J. Knell -- Furniture Today, October 7, 2004
NEW YORK – Li & Fung USA, a subsidiary of Hong Kong-based global sourcing group Li & Fung Ltd., has hired John "Jack" Toolan as senior vice president and general manager of the Cannon and Cannon Royal Family global licenses.
Toolan's career encompasses various senior executive positions at Westpoint Stevens, where he at one time handled theRalphLaurenHomelicense. More recently, he was the president of Russ Berrie & Co.'s North American division.At Li & Fung, Toolan will build the team that will be responsible for design, product development, sourcing, distribution and merchandising of the product categories included in the Cannon license.Also today, Li & Fung and Official Pillowtex LLC said they have finalized a global licensing agreement for the Cannon and Cannon Royal Family Brands.Li & Fung also holds the global license with Pillowtex LLC for Royal Velvet.Li & Fung will be responsible for the product development, design, sourcing for mid-tier distribution under the Cannon Royal Family nameplate and distribution to mass and grocery channels under the Cannon nameplate, stated the companies. Beginning fall 2005, both brands will offer bedding, bath, kitchen, and tabletop goods.
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