Scottish cashmere maker secures funding to expand

A luxury cashmere knitwear brand in the Scottish Borders has set its sights on expansion after securing funding to invest in new equipment and launch new products. Hawico manufactures cashmere garments for retail sale in its own stores around the world. He plans to use funding of around £250,000 from HSBC, provided in the form of an equipment finance loan, to buy state-of-the-art machinery capable of creating whole knit garments, reports the The Herald newspaper.

Shima Seiki WHOLEGARMENT specialty machines will allow the Hawick-based company to speed up production, reduce material waste and experiment with new designs as it seeks to expand its product lines, according to the report.

Director Ewan Thomson told the Herald: “We are proud to be able to make cashmere garments that are all Scottish from start to finish. Having the support of HSBC UK to invest in the best possible technology will allow us to manufacture faster and more creatively. By providing access to new technologies, we also hope to encourage younger generations to enter the textile industry.

Hawico, a family business, can trace its history back to 1874, when the Hawick Hosiery Company was formed and opened its mill on Duke Street in the city. Today, she continues to manufacture her knitwear in the same location, where the exterior structure of the building remains the same. It sells its cashmere in its 13 stores, as well as online. Stores are located in Scotland, England, Germany, Italy, Switzerland, USA and Japan.

Marcus Sangster, Relationship Manager for Equipment Finance at HSBC UK, said: “The Scottish textile industry has an international reputation for creating quality cashmere garments. These new machines demonstrate Hawico’s commitment to keeping craftsmanship alive in frontiers, while modernizing with innovative technology to continue its growth.

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