Pakistani textile group Artistic Milliners has acquired a majority stake in Cone Denim, a historic US-based denim brand, from Elevate Textiles. The deal is expected to close in the first quarter of 2026.
Cone Denim will still be operating on its historic brand name under the agreement. Artistic Milliners assured that its Pakistan business will continue as an independent enterprise, and the new multinational business will operate Cone Denim as an independent portfolio company.
Cone Denim will now offer total solutions, in terms of high-quality denim fabric up to the finished products. The new entity incorporates the choice of assets in both organizations and creates a global platform in various regions.
The company will continue operations at Cone Denim’s mills in Parras and Yecapixtla, Mexico, and its Jiaxing, China facility. In addition, it will manage Artistic Milliners’ garment unit in Parras, Mexico, and its Star Fades International (SFI) laundry and development centre in Los Angeles.
The new entity will be led by Steve Maggard, President of Cone Denim, who will report to the Board of Directors. The board includes Omer Ahmed, Murtaza Ahmed of Artistic Milliners, and Jeffrey P. Pritchett, alongside additional directors yet to be named.
Murtaza Ahmed and Omer Ahmed stated that Cone Denim would maintain its identity while benefiting from the expertise of Artistic Milliners. They highlighted that the combined operations will deliver speed, scale, and secure supply chains for global customers.
Pritchett, CEO of Elevate Textiles, said the transaction brings together two long-standing denim manufacturers recognized for innovation, sustainability, and traceability.
Cone Denim, under Artistic Milliners’ majority ownership, also announced plans to expand into North Africa as part of its broader global strategy.
