Li & Fung gets into factory safety business

Li & Fung, the sourcing agent for retailers like Wal-Mart (WMT.NYSE) and Target (TGT.NYSE), told The Wall Street Journal  that it plans to launch consulting services aimed at safety code compliance. “While we already had many compliance and safety programs in place, the events in the last 18 months, particularly as it relates to worker safety, caused us to rethink our role in the global supply chain,” Rick Darling, the company’s executive director of government and public affairs, said in the interview.  Li & Fung-sourced clothing was found in the remains of a 2012 fire in Bangladesh, which killed more than 100 workers.