{{Short description|Hong Kong businessman (1938–2022)}} {{Infobox person | honorific_prefix = Dr | name = Kenneth Fang | honorific_suffix = GBS CBE JP | image = | native_name = 方鏗 | native_name_lang = Chinese name | birth_date = November 20, 1938 | birth_place = Jiangsu, China | death_date = {{Death date and age|August 28, 2022|November 20, 1938}} | death_place = Hong Kong | alma_mater = University of Michigan Massachusetts Institute of Technology | occupation = Businessman, philanthropist | children = {{ill|Katherine Fang|zh|方淑君}} (Daughter) Susanna Fang (Daughter) Jean Fang (Daughter) {{ill|Douglas Fang|zh|方仁德}} (Son) | relatives = Vincent Fang (Brother) | module = {{Infobox Chinese |child=yes |c=方鏗}} }}
'''Dr Kenneth Fang Hung''' GBS CBE JP ({{lang-zh|t=方鏗}}; November 20, 1938 - August 28, 2022) was a Hong Kong billionaire industrialist, politician, and philanthropist. He was known as the "King of Textiles".<ref>{{Cite web |title=In Memoriam: Dr. Kenneth Fang Hung, GBS, JP | HKBU Foundation |url=https://foundation.hkbu.edu.hk/en/node/12553#.ZAcG9exBw-Q |website=foundation.hkbu.edu.hk}}</ref><ref>{{Cite web |title=麻省理工學霸 紡織起家卻出售65家超市給樂天 如今坐擁10億身家 |url=https://kknews.cc/zh-hk/finance/5eyzgj2.html}}</ref>
== Early life == Fang was born on November 20, 1938, in Xiaohai Town, Nantong City, Jiangsu Province. He lived in Hong Kong from the 1950s onward. For his early education, he graduated from Pui Ching Secondary School in 1956. Fang received a Bachelor of Science from the University of Michigan and a Masters of Science in chemical engineering from the Massachusetts Institute of Technology.
== Family background == The [https://zh.wikipedia.org/zh-hans/%E6%96%B9%E8%82%87%E5%91%A8%E5%AE%B6%E6%97%8F Fang family] with roots in Haimen, Nantong, Jiangsu, China has long had a prominent position in Hong Kong. They are deemed by Forbes as "the largest amongst the dozen-or-so of families that dominate Asia's textile industry".<ref name=":5">{{Cite news |last=Berman |first=Phyllis |date=January 20, 1992 |title=Closer to the consumer |url=https://signin.lexisnexis.com/lnaccess/app/signin?back=https%3A%2F%2Fadvance.lexis.com%3A443%2Fnexis%2Flaapi%2Fdocument%3Fcollection%3Dnews%26id%3Durn%253AcontentItem%253A3SJB-2XR0-0019-F1P2-00000-00%26context%3D1519360&aci=ndc |work=Forbes (International) |pages=56}}</ref>
Fang's father, Fang Shui Chow (Chinese: 方肇周), made his first fortune in the yarn trade in Shanghai. Fang Shui Chow later moved to Hong Kong on the eve of the Communist takeover in 1949, shipping hundreds of the most technologically advanced cotton spindles to the entrepôt before his arrival.<ref name=":5" /> He later founded S.C. Fang & Sons that same year, which became Hong Kong’s largest textile maker.<ref name=":1">{{Cite web |last=Flannery |first=Russell |title=What Slowdown? |url=https://www.forbes.com/sites/russellflannery/2012/03/22/what-slowdown-china-textile-retail-pioneer-kenneth-fang-still-sees-growth/?sh=d911f0e33e6b |website=Forbes}}</ref> He was regarded as one of the pioneers of Hong Kong's 20th century industrial boom. One of Fang's brothers is Vincent Fang, who inherited and serves as the Chief Executive of the Toppy Group, overseeing the family's multi-billion-dollar apparel retailing operations.<ref>{{Cite web |last= |first= |last2= |last3= |date=January 29, 2010 |title=Apparel and Retail Executives Look to China for Growth |url=https://www.apparelnews.net/news/2010/jan/29/apparel-and-retail-executives-look-to-china-for/ |access-date=2023-01-24 |website=www.apparelnews.net |language=en}}</ref> He is also notably the former chairman & leader of the Liberal Party of Hong Kong, and a former member of the Legislative Council of Hong Kong.
== Career ==
=== Textile and apparel manufacturing === In the 1960s, Fang joined his father's textile-making business, S.C. Fang & Sons, for one year. Fang’s family was one of the largest holders under the textile quota system, which was in place throughout the second half of the 20th century and abolished in 2005.<ref>{{Cite web |title=製衣配額「四大家族」之一 - 太陽報 |url=https://the-sun.on.cc/cnt/news/20100609/00407_031.html |access-date=2025-02-17 |website=the-sun.on.cc}}</ref><ref>{{Cite journal |last=Morkre |first=Morris |title=Rent-seeking and Hong Kong's Textile Quota System |url=https://www.ide.go.jp/library/English/Publish/Periodicals/De/pdf/79_01_05.pdf |journal=Institute of Developing Economies}}</ref> They held near-monopolistic control and investments in the textile industry.
Fang was best known for founding Fang Brothers Knitting Limited (Chinese: 肇豐針織) in 1965, which was the world's largest producer of knitwear and garments throughout the second half of the 20th century, and remains one of the largest.<ref>{{Cite web |title=Cutting-edge design, a media blitz – just look at fusty old Pringle now |website=Independent.co.uk |url=https://www.independent.co.uk/news/business/analysis-and-features/cuttingedge-design-a-media-blitz-ndash-just-look-at-fusty-old-pringle-now-1790302.html}}</ref><ref>{{Cite web |title=Scotland's Fusty Pringle Retakes Fashion |website=Bloomberg News |url=https://www.bloomberg.com/news/articles/2009-09-21/scotlands-fusty-pringle-retakes-fashion}}</ref> After shopping at name-brand department stores Jordan Marsh and Filene's during his studies at MIT, he saw the demand for simply constructed sweaters, which led him to manufacture knitwear on a private-label basis.<ref name=":5" /> As of 2002, Fang Brothers Knitting operated 25 factories in mainland China, Hong Kong, Thailand, Malaysia, Mexico, Honduras, the United States and the United Kingdom; employed over 25,000 workers; produced over 30 million pieces of high quality knitwear annually (also produced undocumented amounts of t-shirts, sweaters, and other garments).<ref name=":2">{{Cite web |title=Industrialist of the Year Award {{!}} Past Awardees {{!}} Federation of Hong Kong Industries |url=https://www.yiah.org/en/past_awardees/ioy/ |archive-url=https://web.archive.org/web/20240623232708/https://www.yiah.org/en/past_awardees/ioy/ |archive-date=2024-06-23 |access-date=2024-12-12 |website=www.yiah.org |url-status=live }}</ref> The firm supplied to companies including Ralph Lauren, Burberry, Brooks Brothers, J.Crew, and more.<ref name="EXPERTISE">{{Cite web |title=EXPERTISE |url=https://www.fangbrothersknitting.com/expertise |access-date=2025-02-13 |website=fangbrothers |language=en}}</ref>
Fang was widely regarded as the leader of Hong Kong's textile & garment industry for his contributions. Fang was credited with modernizing the industry by introducing Western production and business formats and employing vertical-integration practices.<ref name=":3">{{Cite web |title=Industrialist of the Year Award {{!}} Past Awardees {{!}} Federation of Hong Kong Industries |url=https://www.yiah.org/en/past_awardees/ioy/ |archive-url=https://web.archive.org/web/20241213131126/https://www.yiah.org/en/past_awardees/ioy/ |archive-date=2024-12-13 |access-date=2025-02-13 |website=www.yiah.org |url-status=live }}</ref> During the 1980s, he led and successfully defended Hong Kong against a case raised by the US Department of Commerce on a US Anti-Dumping Duty Order against MMF Sweaters from Hong Kong. In 1999, he chaired the Textiles and Garment Industry Revitalisation Committee and established a plan to strengthen Hong Kong’s position as a world fashion hub, which was implemented by the Hong Kong government in 2000. In 2001, he led the establishment the Hong Kong Fashion and Design Centre.<ref name=":2" />
=== Fang Brothers Holdings Limited === Fang was also the chairman of Fang Brothers Holdings Limited, which he founded to consolidate his expansive interests and wealth. Through Fang Brothers Holdings, he diversified beyond the textile industry, investing into retail & trading, real estate, electronics, and energy storage amongst other sectors.<ref>{{Cite web |title=Named Professorship at HKUST |url=https://np.hkust.edu.hk/en/who_supported_details.php?id=39 |access-date=2024-11-25 |website=np.hkust.edu.hk}}</ref><ref>{{Cite web |title=香港回归20周年，"纺织大王"方铿的故事 |url=https://www.sohu.com/a/153287929_485477 |access-date=2023-07-18 |website=www.sohu.com}}</ref>
Fang started the retailing & trading arm in 1973, his portfolio of owned brands included Pringle of Scotland, Episode, Jessica, Color Eighteen, Jean-Pierre, and Excursion amongst others, operating over 1,000 stores worldwide.<ref name=":2" /><ref name="EXPERTISE"/> He also owned significant stakes in other fashion houses. The success of Fang's homegrown brands led him to be considered "Hong Kong's fashion pioneer of the middle market", and at one point "gave the impression that [he] owns every other shop in Hong Kong, all the busiest ones", according to the New York Times.<ref>{{Cite web |last=Menkes |first=Suzy |date=June 1, 1993 |title=Hong Kong's Shopping Revolution: [2 Edition] |url=https://www.proquest.com/docview/319732041 |archive-url= |access-date=2024-04-07 |website=International Herald Tribune / ProQuest|id={{ProQuest|319732041}} }}</ref> Luxury knitwear fashion-house Pringle of Scotland, acquired in 2000, holds a royal warrant and is one of the world's oldest continually operating fashion companies.<ref>{{Cite web |date=2000-02-14 |title=Hong Kong magnate poised to buy Pringle |url=https://www.heraldscotland.com/news/12217035.hong-kong-magnate-poised-to-buy-pringle/ |access-date=2023-05-23 |website=HeraldScotland |language=en}}</ref><ref>{{Cite news |date=2015-04-01 |title=Diamonds are forever: 200 years of Pringle of Scotland |url=https://www.bbc.com/news/uk-scotland-32144268 |access-date=2025-02-13 |work=BBC News |language=en-GB}}</ref><ref>{{Cite web |last=Nichols |first=Elizabeth |date=2015-04-10 |title=A Dance Takes Shape From Pringle of Scotland's Archives |url=https://archive.nytimes.com/tmagazine.blogs.nytimes.com/2015/04/10/pringle-of-scotland-bicentennial-michael-clark-company-collaboration/ |access-date=2025-02-13 |website=T Magazine |language=en-US}}</ref> He has reportedly personally invested over £100 million into the brand.<ref>{{Cite book |last=The Fashion and Design Club |first=The Fashion and Design Club |title=Inside the Brand: Pringle of Scotland: How did it all go so wrong? |date=March 10, 2021 |publisher=Independently published |isbn=979-8720043438}}</ref> GRI, a subsidiary operating Fang's licensing and franchising business, distributes a wide range of brands, including being the exclusive licensee of Nine West, Anne Klein New York, and Easy Spirit in Asia and Europe.<ref>{{Cite web |last=Flannery |first=Russell |title=What Slowdown? China Textile, Retail Pioneer Kenneth Fang Still Sees Growth |url=https://www.forbes.com/sites/russellflannery/2012/03/22/what-slowdown-china-textile-retail-pioneer-kenneth-fang-still-sees-growth/ |access-date=2025-02-13 |website=Forbes |language=en}}</ref><ref>{{Cite web |title=Jones Apparel Gains More Stake in GRI Group {{!}} License Global |url=https://www.licenseglobal.com/apparel/jones-apparel-gains-more-stake-gri-group |access-date=2025-02-13 |website=www.licenseglobal.com |language=en}}</ref>
Fang's electronics arm included several companies primarily focused on the mainland China region. He acquired [https://zh.wikipedia.org/zh-hant/%E5%84%84%E9%83%BD%EF%BC%88%E5%9C%8B%E9%9A%9B%E6%8E%A7%E8%82%A1%EF%BC%89 Yeebo International Holdings] (SEHK: [https://www.hkex.com.hk/Market-Data/Securities-Prices/Equities/Equities-Quote?sym=259&sc_lang=en 259]) in 1997, a manufacturer of liquid crystal displays, OLED, and eyewear.<ref>{{Cite web |date=1997-04-19 |title=Fang to take helm at Yeebo after restructure |url=https://www.scmp.com/article/192769/fang-take-helm-yeebo-after-restructure |access-date=2023-01-27 |website=South China Morning Post |language=en}}</ref><ref>{{Cite web |title=Yeebo (International Holdings) Limited |url=https://www.yeebo.com.hk/en/ |access-date=2025-02-13 |website=www.yeebo.com.hk}}</ref> He was deemed a "white knight" by the media for turning around the company's debt and legal issues.<ref>{{Cite web |date=1997-03-24 |title=Yeebo white knight to save face as well |url=https://www.scmp.com/article/189595/yeebo-white-knight-save-face-well |access-date=2023-01-27 |website=South China Morning Post |language=en}}</ref> Yeebo Display, a subsidiary, is the world's largest manufacturer of flat-panel LCD displays.<ref>{{Cite web |title=亿都(国际控股)新款液晶显示器大幅提升用户体验，不容错过_产品_设备_行业 |url=https://it.sohu.com/a/857878050_121924584 |access-date=2025-03-28 |website=it.sohu.com}}</ref> In 2005, he acquired a controlling stake in Nantong Jianghai Capacitor Co (SHE: [https://www.reuters.com/markets/companies/002484.sz 002484]), China's largest manufacturer of capacitors, from a state-owned enterprise. Its core business focuses on producing aluminium electrolytic capacitors. Since taking the company public in 2010, the stock has risen over 300% to-date.<ref>{{Cite web |last=网易 |date=2025-01-13 |title=套现56亿后，香港一家人顺利撤离，又一企业被国资接盘 |url=https://www.163.com/dy/article/JLPK8GK805566VN8.html |access-date=2025-02-13 |website=www.163.com}}</ref><ref>{{Cite web |title=香港一家人卖掉公司后，落袋27.6亿悄然离场，给股民留下个聚宝盆_江海股份_方铿_肇周 |url=https://www.sohu.com/a/851913545_122118171 |access-date=2025-02-13 |website=www.sohu.com}}</ref> In collaboration with CITIC Capital, through China Auto System Technologies, he also held a major stake in Aotecar (SHE: [https://www.reuters.com/markets/companies/002239.SZ/ 002239]), China's largest manufacturer of air conditioning compressors and HVAC systems.<ref>{{Cite web |title=Automechanika - Exhibitors & Products 2024 |url=https://automechanika.messefrankfurt.com/frankfurt/en/exhibitor-search.detail.html/nanjing-aotecar-new-energy-technology-co-ltd.html |archive-url=https://web.archive.org/web/20240811150243/https://automechanika.messefrankfurt.com/frankfurt/en/exhibitor-search.detail.html/nanjing-aotecar-new-energy-technology-co-ltd.html |archive-date=2024-08-11 |access-date=2025-05-08 |website=automechanika.messefrankfurt.com |language=en |url-status=live }}</ref><ref>{{Cite web |title=History, Development And Reorganisation |url=https://www.hkexnews.hk/listedco/listconews/sehk/2011/0415/01283_1053741/e116.pdf |website=www.hkexnews.hk}}</ref><ref>{{Cite web |title=发展历程-奥特佳新能源科技股份有限公司 |url=https://www.aotecar.com/fzlc |access-date=2025-05-08 |website=www.aotecar.com}}</ref>
Fang was praised for re-investing heavily into his hometown, Nantong, and other regions in Jiangsu. He reportedly established over ten businesses in the retail, beer, printing, real estate, and healthcare industries.<ref name=":4">{{Cite web |title=捐资办学实业报国---方铿 - 上海交通大学教育发展基金会 |url=https://foundation.sjtu.edu.cn/story/view/911 |access-date=2025-02-13 |website=foundation.sjtu.edu.cn}}</ref> Amongst those businesses included hypermarket chain Times Ltd, which he sold to Lotte Shopping in 2009 for US$630 million, remaining as the largest acquisition of a Chinese company by a Korean firm to date. He personally pocketed over US$450 million from the sale.<ref name=":1" /><ref>{{Cite web |title=South Korea's Lotte To Expand In China |url=https://www.forbes.com/2009/10/19/lotte-times-deal-markets-equity-retail-china.html |access-date=2022-12-03 |website=Forbes |language=en}}</ref><ref>{{Cite web |title=针织大王套现过冬 时代零售或许是方氏家族度过此轮危机最有力的后盾_滚动新闻_新浪财经_新浪网 |url=http://finance.sina.com.cn/roll/20090827/00216668917.shtml |access-date=2023-07-18 |website=finance.sina.com.cn}}</ref> Another was Jiangsu Dafuhao Breweries, one of China's 10 most popular beer brands and the most popular in the Jiangsu province. It was later sold to Heineken for an undisclosed amount.<ref>{{Cite web |title=China Resources-SAB Miller JV Acquires two Chinese Breweries from Heineken |url=https://www.foodingredientsfirst.com/news/china-resources-sab-miller-jv-acquires-two-chinese-breweries-from-heineken.html |access-date=2025-02-13 |website=www.foodingredientsfirst.com |language=en}}</ref><ref name=":4" />
== Positions ==
=== Business ===
* Chairman of Fang Brothers Holdings Limited and related companies (肇豐集團) * Chairman of Fang Brothers Knitting Limited (肇豐針織) * Chairman of S.C. Fang & Sons Limited * Chairman of [https://zh.wikipedia.org/zh-hant/%E5%84%84%E9%83%BD%EF%BC%88%E5%9C%8B%E9%9A%9B%E6%8E%A7%E8%82%A1%EF%BC%89 Yeebo (International Holdings) Limited] * Non-executive Director of the Hongkong and Shanghai Banking Corporation * Independent non-executive director of Wing Tai Properties Limited * Independent non-executive director of Jiangsu Expressway Company Limited * Independent non-executive director of Nan Hai Corporation Limited
=== Community ===
* Chairman of the Hong Kong Productivity Council * Chairman of the Hong Kong Research Institute of Textiles and Apparel * Chairman of Hong Kong Examinations Authority * Chairman of the Board of Governors of the Prince Philip Dental Hospital * Honorary Chairman of the Hong Kong General Chamber of Textiles * Honorary Chairman of the Hong Kong Textile Council * Honorary Life President of the Hong Kong Polytechnic University * Honorary President of the HKBU Foundation * Honorary Member of the Court of the Hong Kong University of Science and Technology * Honorary Member of the Board of Trustees of Nanjing University * Member of the Court of the University of Hong Kong * Member of the Court of the Hong Kong Polytechnic University * Member of the Court of the City University of Hong Kong * Member of the Textile Advisory Board of the Hong Kong Government
=== Political === Fang, as a pro-Beijing entrepreneur, maintained good relations with the Chinese government, and was appointed a member of the National Committee of the Chinese People’s Political Consultative Conference, and a member of the Standing Committee of Chinese People’s Political Consultative Conference of Jiangsu Province.
Some of his other past appointments include:<ref name=":0">{{Cite web |title=Webb-site Who's Who: Fang, Kenneth Hung 方鏗 |url=https://webb-database.com/dbpub/natperson.asp?p=5132 |access-date=2023-05-23 |website=webb-site.com}}</ref><ref>{{Cite web |title=Mr Kenneth FANG Hung - Honorary University Fellows - Honorary University Fellowships |url=https://www4.hku.hk/honfellows/honorary-university-fellows/mr-kenneth-hung-fang |website=www4.hku.hk}}</ref>
* Member of the Selection and Preparatory Committee for the first Government of the Hong Kong Special Administrative Region * Member of the Election Committee (Hong Kong) * Member of the Hong Kong Affair Advisers to Beijing * Member of the One Country Two Systems Research Institute * Member of the [https://zh.wikipedia.org/zh-hant/%E9%A6%99%E6%B8%AF%E5%86%8D%E5%87%BA%E7%99%BC%E5%A4%A7%E8%81%AF%E7%9B%9F Hong Kong Coalition]
== Awards and recognition == Fang received several honours and awards:<ref name=":0" /><ref name=":3" />
* Justice of the Peace (Hong Kong, 1986) * Most Excellent Order of the British Empire (United Kingdom, 1990) * Commander of the Most Excellent Order of the British Empire (United Kingdom, 1997) * Gold Bauhinia Star (Hong Kong, 2004) * Honorary Citizen of Nantong, PRC * Honorary University Fellow by the University of Hong Kong (Hong Kong, 2002) * Honorary Degree of Doctor of Business Administration by the Hong Kong Polytechnic University (Hong Kong, 2005) * Honorary Doctorate by the Nanjing University (PRC, 2014) * Industrialist of the Year by the Federation of Hong Kong Industries (2002) * Outstanding Leader in Business by the Sing Tao News Corporation (2011) * First awardee of "Jiangsu Overseas Chinese Entrepreneurs Charity Star" (2013)
== Personal life == Fang was married to Diana Bin since April 1967, with three daughters and one son, Katherine, Susanna, Jean, and Douglas. He lived on Osmanthus Road, Kowloon Tong.
In 2009, Forbes estimated his fortune at US$1.6 billion (10 billion Yuan).<ref>{{Cite news |last=Flannery |first=Russell |date=April 17, 2012 |title=中国经济不行啦？巨商方铿不这么看 |url=https://www.forbeschina.com/articles/11735 |work=Forbes China}}</ref><ref>{{Cite web |title=香港纺织大王门前宝马遭纵火 否认与人结怨(图) |url=https://www.chinanews.com.cn/ga/shwx/news/2007/10-08/1042715.shtml |access-date=2022-11-03 |website=www.chinanews.com.cn}}</ref>
Fang was frequently involved in philanthropic activities. Since 1990 he has donated more than $100 million to his hometown, Nantong. These include the construction of several primary and secondary schools in the city, establishment of a program that sent gifted students to Hong Kong each year on a multi-day exchange, donation of $10 million to Nantong University, donation of $3 million to found a cultural arts museum, and gift of $35 million worth of textile weaving equipment.<ref name=":4"/><ref>{{Cite web |title=传承方正精神 再创辉煌未来-南通市人民政府 |url=https://www.nantong.gov.cn/ntsrmzf/zwyw/content/1fb04b78-f5c6-4dc2-b8ed-07f24625c408.html |access-date=2025-02-13 |website=www.nantong.gov.cn}}</ref> He also made significant contributions to higher education institutions. He donated over $40 million to Nanjing University, where the gymnasium & multi-sports complex is named in honour of his late father.<ref>{{Cite web |title=Sports Facilities |url=https://njunju.nju.edu.cn/EN/sports_facilities/list.htm |access-date=2025-02-13 |website=njunju.nju.edu.cn}}</ref><ref>{{Cite web |title="纺织大王"方铿：勤勉踏实，顺势而为 |url=https://www.sohu.com/a/154634573_527026 |access-date=2025-02-13 |website=www.sohu.com}}</ref> In 2004, he donated $5 million to Shanghai Jiao Tong University, establishing the Kenneth Fang Reward Fund. He made several donations to his alma mater, Massachusetts Institute of Technology, including a $1 million endowment to found the Chinese Language Program in 1992.<ref>{{Cite web |date=1992-11-04 |title=Fang $1M Gift To Support Chinese |url=https://news.mit.edu/1992/fang-1104 |access-date=2025-05-08 |website=MIT News {{!}} Massachusetts Institute of Technology |language=en}}</ref> His son, Douglas, serves as a member of the MIT Corporation.<ref>{{Cite web |title=Social Sciences – The MIT Corporation |url=https://corporation.mit.edu/visiting-committees/social-sciences/ |access-date=2025-05-08 |website=corporation.mit.edu}}</ref> In 2004, the Fang Brothers Whole Person Development endowment fund at the City University of Hong Kong was established with a large donation, which continues to provides annual scholarships.<ref>{{Cite web |title=Fang Brothers Whole Person Development Scholarships 2024/25 {{!}} Student Development Services |url=https://www.cityu.edu.hk/sds/fang-brothers-whole-person-development-scholarships-202425 |access-date=2025-05-08 |website=www.cityu.edu.hk}}</ref> He established the Fang Professorship in Engineering at the Hong Kong University of Science and Technology, which has been in place since 2016.<ref>{{Cite web |title=Named Professorship at HKUST |url=https://np.hkust.edu.hk/en/who_supported_details.php?id=39 |access-date=2025-05-08 |website=np.hkust.edu.hk}}</ref>
== References == {{Reflist}}
{{DEFAULTSORT:Fang, Kenneth}} Category:1938 births Category:2022 deaths Category:Massachusetts Institute of Technology alumni Category:Hong Kong businesspeople in the textile industry Category:Hong Kong billionaires