This is not the Springs we grew up with.

Never mind that over the past few years the company has changed owners and its name—from Springs Industries to Springs Global. As this past week has shown, it has changed its whole business model.

The company has two new licenses—with Nate Berkus for home furnishings, and with Waterworks for bath linens and decorative bath accessories. And these are just the latest: Earlier this year, the company introduced its first line with Diane von Furstenberg and cut a deal with Sami Hayek that will produce home furnishings, accessories and home design solutions.

It has entered new product categories; furniture, tabletop and window treatments are now part of the Springs product offering. It has taken older brands—Springmaid and Court of Versailles—and relaunched them as lifestyle concepts.

Springs is no longer one of the mills that spewed out countless dozens of sheets and towels, keeping its factories going, three shifts a day, because it was the only way the company could turn a profit.

The fact that Springs has been able to transform itself so rapidly from an old-line textiles company to a brand-oriented supplier of entire home lifestyles is one of the most remarkable stories in the textiles industry. And the company isn’t done yet.—David Gill