Cone Denim history

Their plans to build two mills, one for denim and one for flannel, were delayed by a financial panic in 1893, but within two years, the Cones had moved ahead, constructing a denim mill on land they owned in Greensboro, North Carolina.

In 1896, the first lengths of fabric rolled off the big looms at Proximity.

Over the next few years, the Cones encouraged their friends, the Sternberger brothers from South Carolina, to move to Greensboro and build another textile plant, Revolution Cotton Mill, which opened in 1898, producing flannel.

1905: Second denim plant begins turning out indigo blue denim.

By 1910, White Oak was supplying a third of the world's denim demand.

1912: Fourth mill is opened to print cotton with multiple colors.

By 1913, the Proximity Manufacturing Company owned all or half interests in seven cotton production facilities.

In 1915, the company began to produce denim fabric for Levi's jeans, opening up an important new market.

In 1920, the company bought the Salisbury Cotton Mills, which produced chambrays, coverts, ticking, and upholstery cloth.

Further diversification came in 1925, when the Cone's New York distribution arm began marketing cotton blankets and felts produced by the Houston Textile Company of Texas.

By 1941, Cone was on more secure financial footing, and the company acquired the Florence Mills and its subsidiary, the American Spinning Company.

1945: Separate mills merge under Proximity Manufacturing Company.

In 1950, Cone merged with the Dwight Manufacturing Company, a producer of twills and drills located in Alabama, and in the following year, the company was purchased outright.

1951: Company goes public, begins trading on New York Stock Exchange.

In 1952, the company purchased the Union Bleachery in Greenville, South Carolina.

1962: Cone Mills steps outside textile industry for first time.

The extent of denim's domination of the youth fashion market was demonstrated in 1969, when Cone's denim warehouse at its White Oak plant was flooded after a torrential downpour fell on Greensboro.

As further evidence of denim's popularity, Cone's Proximity Cotton Mills were converted back to their original function, the manufacture of denim, in 1970, to meet the growing demand.

In 1972, Cone expanded its program to sell off unused real estate that the company had acquired over the years, buying the Cornwallis Development Company, a real estate developer, which became a separate Cone division.

1975: Begins plant modernization drive to cut costs, combat cheap imports.

And, in 1990, the company decided to move its Marketing Division to Greensboro.

At the same time that it strengthened its financial standing through this move, Cone--continuing a strategy begun in late 1991--moved to shrink its operations, withdrawing from the corduroy manufacturing business, as well as other areas.

Although 1995 sales reached a record high of about $910 million, the company posted a $3.3 million net loss.

In 1998, Cone Mills launched a major restructuring effort to cut costs.

Cone Mills' Parras Cone de Mexico joint venture contributed $8.3 million to 2002 operation income.