USA: Cone Mills Ends Exclusive 501s Deal, Eyes Turkish JV
Textile giant Cone Mills will no longer be the exclusive supplier of denim for Levi's 501s and is holding talks about setting up a joint venture with a Turkish denim producer to sell denim in Europe, it was reported on Thursday.
The Greensboro News & Record newspaper said Cone and Levi Strauss have amended a 1992 deal to allow Levi Strauss to buy denim for 501s from other sources beginning March 30, 2003. Cone will also be allowed to sell 501-style denim to other firms.
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