Blue Farm Textiles offered the innovated textiles the denim market needed, but it seems not at the prices brands and consumers demand.
In a letter to business partners and suppliers sent on Friday, the Hong Kong-based fabric purveyor announced that it will dissolve Blue Farm Textile Limited after July 1, 2018. The company confirmed it will deliver all orders committed to on or before Feb. 1, 2018.
The company said it feels “suffocated” by the millennial generation’s demand for fast pace fashion with prices.
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Blue Farm is the latest denim industry player to be affected by the industry’s push for low prices. ITV Denim and Cone Denim’s iconic White Oak plant announced in October they would wind down business by the end of this year. Last week DNA Textile Group said it will close down its denim business unit by the end of January 2018.
Launched 10 years ago, Blue Farm became known for its collections of innovative fabrics with crossover appeal, like water-resistant denims with super-lightweight coatings, wool-like surfaces and 3-D weaves.