Global Brands Group (GBG), born out of Li & Fung’s global supply chain business back to the 2000s, once was also the jewel in Li & Fung’s crown for years; based on the relentless efforts of three generations of Li & Fung families since the 1970s, the overlord of the previous generation of fashion & accessories industry has finally lost its total share in the past ten years - Continuous strategic mistakes, market changes, the rise of #ecommerce, #socialmedia and #socialcommerce, the unprecedented impact of the epidemic but few protection, and the slow process of digitization across dozens of comples independent brands businesses are gradually pointing towards the same end. GBG, headquartered in the Empire State Building New York for a long time, was once a mecca for a generation of big-box retailers in the United States, especially for private brands like a lighthouse of what, how in volume but with premium quality. There used to be countless mails, orders, faxes, bargains, conferences, joys and sorrows between the United States and even the world and the manufacturing industry in Asia and Mainland China. It has witnessed the prosperity and glory of the legacy retail industry in the United States in the 1980s-2000s, and it has also despised the digital giants today when they were small and vulnerable in their early days back to the 1990s. It used to be a place where dozens of well-known global fashion & accessories brands gathered. It once represented the mainstream consumer population’s understanding and follow-up of fashion in the United States. It was also the place most frequently visited by private equity funds from Wall Street in the retail industry and witnessed the rise of countless retail brands' ups and downs. In fact, the fate of GBG may have doomed its fate since its spun off from Li & Fung’s huge business ship since day one: On the surface, GBG represents the most valuable piece of business under Li & Fung and has the highest market evaluation. It is worth a premium, but in fact all brands need a complete supply chain infrastructure, but independent marketing, retailing channels and other unique but core operations, and they need long-term continuous investment and maintenance of the brand’s minds to users. In the case of insufficient digitization, relying only on the performance of limited top brands will inevitably fall into the fate of insufficient waist brand power and the tail brand being gradually eliminated by the market; and the huge supply chain system of Li & Fung may be also a mixed bag to GBG. It surely can secure the best conditions in terms of cost and massive production efficiency, but relying on the only platform itself may not be the most efficient operating flywheel to too many brands. Reference Why did Global Brands Group (or GBG) of FUNG Group file for bankruptcy recently? Who are the possible competition forces to ABG' plausibly invincible model? How do you find ABG's business model and its value before the upcoming IPO? Is Private Brand business experiencing a new historical cycle of renaissance? What are the trends ongoing of DTC brands vs. Private brands and National brands? How Nordstrom is turning itself to a one-stop Omni-Service retailer at 54% sales from digital?