Springs goes to source with Ultima purchase
Staff -- Home Textiles Today, 4/8/2002 12:00:00 AM
FORT MILL, SC —
Springs Industries announced last week that it had acquired a major aspect of Ultima Enterprises, a business that sources quilts and other related home textiles from Asia.
The deal effectively bolsters Springs' sourcing capabilities in an area of the world that could soon be one of the United States' largest sources of home textiles.
Although Ultima is formally based in New Jersey, according to Ted Matthews, vp of corporate communications for Springs, the factory and approximately 20 employees joining Springs are based in Shanghai, China.
Ultima develops and markets products made by a network of suppliers. Its employees were involved in all aspects of product merchandising, design, production management, quality control, export logistics and customer service.
The acquisition also erases Ultima from the home textiles picture as a supplier of quilts.
According to Crandall Bowles, chairman and ceo of the major mill, Springs' working arrangement with Ultima during the 2001 October market led to the acquisition. Springs' extensive introductory quilt line was unveiled during that market along with a number of coordinating items, such as shams.
"We will combine Ultima's product development capabilities and manufacturing relationships with our merchandising and design expertise to create a compelling and cost-competitive collection of home fashions," Bowles said. "We recently partnered with Ultima to produce a beautiful line of quilts, which were a hit with several of our retail customers."
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