✎ About Victor Fung

Victor Fung was born on 1945 in Hong Kong, Hong Kong, United States. Victor and William Fung's Li & Fung is a middleman between Chinese manufacturers and retailers in the U.S. and Europe. Still the world's largest supplier of clothes and toys, the Hong Kong-based company is seen as a bellwether of the global retail sector. But the brothers' fortune has fallen dramatically since 2011 as more brands take greater control of their supply chain by dealing with factories themselves. Fung Pak-liu cofounded the company in 1906 with Li To-ming, who sold his stakes to the Fungs four decades later. Pak-liu's grandson Victor, who lives in Hong Kong, chaired Li & Fung until younger brother William took over in 2012. Victor's son Spencer has been serving as Li & Fung's chief executive since 2014; in 2016 daughter Sabrina succeeded uncle William as deputy chairman of the family's menswear retailer Trinity. The other two members of the fourth generation, Victor's younger son Stephen and William's son Terence, have also been rising in the family business.
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Biography/Timeline

1906

At present, Victor Fung is the Group Chairman of Li & Fung Group, and his brother william is the Group managing Director. The Business was founded by their grandfather, Fung Pak-liu, in 1906 and subsequently led by their Father, Fung Hon-chu.

2008

In 2008, Fung was appointed by Donald Tsang, the Chief Executive of Hong Kong, to be the member of "Task Force on Economic Challenges" to evaluate the situation and identify new opportunities during the financial tsunami. The company laid off employees to cut costs, for which he was publicly criticised.

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1945 births Living people Hong Kong chief executives Members of the National Committee of the Chinese People's Political Consultative Conference Harvard Business School alumni Harvard Business School faculty Massachusetts Institute of Technology alumni Hong Kong billionaires People from Heshan Li & Fung Members of Committee of 100 Progressive Hong Kong Society politicians Hong Kong politicians Alumni of King George V School, Hong Kong Hong Kong people stubs