Hongkong sourcing giant

The financial sector told WWD in July that its LF USA, the US subsidiary, was close to a $450 million acquisition of Jimlar Corp..

Jimlar is a Private Companies with Frye trademark and licensed business through Coach and Calvin Klein.

The price was not disclosed in Thursday's statement and could not be contacted by the company until its deadline.

The company also said its profits in the first half of the year surged by 55% to HK $2 billion 171 million or $279 million 550 thousand.

Sales increased by 12% in the six months before June, reaching HK $51 billion 792 million or $6 billion 670 million in 30 months ago.

The company attributed the performance to the beginning of the recovery of the US economy, as well as acquisitions and outsourcing pactions.