Karachi based Artistic Milliners acquires denim factory in Los Angeles
- “This acquisition gives us a strategic foothold in the US, in a region with significant geographic and demographic advantages,” said Murtaza Ahmed, Founder at SFI and Executive Director at Artistic Milliners.
In a move to expand its global footprint, Pakistan's denim manufacturers Artistic Milliners Private Limited has announced to have acquired a denim factory in Commerce, a city located in os Angeles County, California.
The Karachi-based company plans to invest in the facility to grow the business into a state-of the-art design and production hub based on Supply Chain 4.0 principles and 360 degree development solutions.
Under the new name Star Fades International (SFI), the business continues to provide wash and finishing services to a customer roster that ranges from large international retailers to speciality premium labels.
“This acquisition gives us a strategic foothold in the US, in a region with significant geographic and demographic advantages,” said Murtaza Ahmed, Founder at SFI and Executive Director at Artistic Milliners.
“California has historically been an important cornerstone for the international denim industry. In 2021, we anticipate increased demand from international retailers and brands for near-shoring capacity, digital design services and sustainable solutions,” he said. “Our investment in this factory gives us a launch platform in the U.S. to meet that demand as we build the factory of the future.”
Advisor to Prime Minister on Trade and Investment, Abdul Razak Dawood celebrated the development. “It is with great interest that I read that Artistic Milliners has acquired a manufacturing facility in California,” said in a tweet post on Wednesday.
“Our local companies should acquire overseas companies and brands, through proper channel, as it increases outreach in the global market and thereby increases our market share. Pakistani companies, formally reaching out across the globe, is a welcome sign. I wish Artistic Milliners every success,” he added.
The Pakistan Business Council (PBC) also appreciated the development, as it advocates policies to promote global connectivity. “Overseas brand and company acquisitions, especially by our textile exporters is a key step. Artistic Milliner's acquisition of a denim facility in Los Angeles USA is a great example,” it said.
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