China's Challenge Textile Wins Exclusive Deal to Make US PrimaLoft's High-Performance Fabrics(Yicai Global) Sept. 17 -- Challenge Textile has obtained an exclusive global license to make sustainable high-performance garments, developed American PrimaLoft that counts Patagonia and the US army as some of its clients.
A unit of Challenge Textile has penned a five-year deal with the New York-headquartered functional fabrics manufacturer, the Shanghai-based firm said in a statement yesterday, without disclosing financial details.
The Chinese company will produce and distribute PrimaLoft Performance textiles and pay royalties to the American company, known for its fast-dry, breathable, and weather-resistant fabrics. The deal includes the firm's biodegradable synthetic fiber innovation.
The cooperation is based on complementary advantages and promotes Challenge Textile's product upgrading, the Chinese firm said, adding that the partner's Bluesign certification should help it pursue more environmentally friendly modes of doing business.
PrimaLoft's partnership with a recognized industry leader in knit goods should expand its technology platforms into the fabric side while offering cutting-edge products to consumers at a competitive price point, said Chief Executive Mike Joyce.
Challenge Textile's stock price [SHE:002486] fell 1.5 percent to CNY3.89 (US 57 cents) this afternoon.
Editor: Emmi Laine
