Applied DNA enters textile markets with Champion Thread
US-based provider of security solutions Applied DNA Sciences, Inc. (APDN) has entered into an agreement with industrial sewing threads supplier Champion Thread Company (CTC), under which CTC will become the exclusive reseller of APDN’s SigNature DNA markers through its global channels.
The companies will work together to develop, commercialise and distribute the products to the textile industry. The agreement supersedes and replaces a previously signed agreement.
CTC will be granted exclusive worldwide rights as the reseller for the thread, yarn, woven labels and printed labels for an initial period of four years with automatic annual renewals thereafter, subject to either party’s right not to renew, and APDN will receive certain royalties on all sales made by CTC.
Counterfeit items are a significant and growing problem and, according to the US Organization for Economic Cooperation and Development, approximately 30% of counterfeit goods seized throughout the world are textile products, indicating a strong need for additional security measures. The APDN SigNature DNA Thread can help to authenticate thread, yarn and fabric at any stage in the supply chain.