Artistic Milliners announced the acquisition of a majority stake in Cone Denim from Elevate Textiles. The combined company will operate under the Cone Denim name. Artistic Milliners’ Pakistan operations and business will continue to operate independently. The transaction is expected to close in the first quarter of 2026.
“We are committed to bringing the full breadth of our expertise to help unlock Cone’s competitive strengths. Cone Denim will preserve its unique identity while continuing to drive its own business strategy. Our goal is to collaborate closely with the Cone Denim team, building on the legacy and achievements of more than 130 years,” said Murtaza Ahmed and Omer Ahmed of Artistic Milliners in a joint statement.
The new entity will operate a global platform spanning both hemispheres and will comprise a combination of selected assets from each organization. Cone Denim will now operate its mills in Parras and Yecapixtla, Mexico and its facility in Jiaxing, China, as well as Artistic Milliners recently opened garment facility in Parras, Mexico, and its Star Fades International (SFI) laundry and development center in Los Angeles.
The Ahmeds continued: “Cone Denim’s distinctive position as the iconic American manufacturer joins Artistic Milliners’ global portfolio, creating an international organization that leverages our collective infrastructure and expertise to offer customers unparalleled service and flexibility. Our multinational manufacturing locations will offer speed, scale and surety of supply.”
Cone Denim will continue to operate as a standalone portfolio company under Artistic Milliners. Steve Maggard, president of Cone Denim, will lead the new entity, reporting to the Board of Directors, which includes Omer Ahmed, Murtaza Ahmed and Jeffrey P. Pritchett, alongside to-be-determined directors.
Pritchett, CEO and member of the Board of Directors, Elevate Textiles added, “We are excited to unite two global denim leaders with shared values, furthering the Cone Denim name and legacy. Cone Denim and Artistic Milliners both possess long-standing textile heritage and are recognized worldwide for their commitment to innovation, traceability, and sustainability. They are both well-respected, responsible and ethical manufacturers. As the new Cone Denim, we are able to better leverage synergies across our brands, operations, and global footprint, including the return of Cone Denim production capabilities in the US and expansion into new global regions.”
“We remain committed to providing enhanced fabric variety, design innovation, and comprehensive garment services to our customers — this includes our planned expansion into North Africa,” Maggard added.
Image courtesy Cone Denim
