Home » Latest » Levi’s Cuts Ties With Croatian Partners

Levi’s Cuts Ties With Croatian Partners

Iconic American denim jeans manufacturer Levi’s have cut ties after 30 years with their Croatian licensed distributors. Textiles firm Varteks, from Varazdin, have had their distribution contract terminated this week after a 30 year partnership with the jeans giants.

“Due to the lack of liquidity and lack of realization of the initial intervention loans, Varteks could not fulfil previous contract obligations so Levi Strauss has broken the current five-year contract signed in May last year, said Varteks CEO Zoran Košćec.

Revenue from Levi’s sales makes up between 10-15 percent of Varteks total revenue.

Share on:
0 / 5 (0 votes)

Sign up to receive the Croatia Week Newsletter

Related Posts