Founding of Giordano
Rising to the level of factory manager, Lai speculated his year-end bonus on Hong Kong stocks to raise enough cash to buy out the owners of a bankrupt garment factory, Comitex, in 1975 and began producing sweaters. Customers included J.C. Penney, Montgomery Ward, and other U.S. retailers.
Bringing innovations to Hong Kong such as rewarding sellers with financial incentives, he built the chain into an Asia-wide retailer. One of the most well-known clothing retailers in the Asia, Giordano claims more than 11,000 employees in 1,700 shops across 30 territories worldwide.
Read more about this topic: Jimmy Lai
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