Cashmere brand Hawico targets international expansion

Scottish luxury cashmere brand, Hawico is pushing forward with its international retail expansion and brand development plans after securing a seven-figure funding package from HSBC UK.

The Hawick-based family-owned manufacturing and retail company, which currently sells its designs in namesake stores across the globe, and is stocked in luxury clothing boutiques in North America, Europe and Asia, has stated that it hopes to use the funds to open more international stores and will “snap up” retail units in target locations including Paris and New York.

Ewan Thomson, director at Hawico, said in a statement: “Our future lies in the international expansion of the business and HSBC is eager to support that ambition. Our new relationship with HSBC means we are in the best position to act when the right spaces become available.”

In addition, Hawico said that it will also draw on the bank’s support to complete renovations at its original Hawick store and engage in new marketing initiatives.

Nigel Kerr, relationship director at HSBC UK in Scotland, added: “Hawico already operates 14 stores in five countries and has seen consistent demand for its luxury goods, which is encouraging in a challenging sector. We’re pleased to lend support to a successful Scottish brand as it pursues growth in new markets.”

Hawico, previously called Hawick Cashmere Company, was founded by business partners, Jim Thomson and David Sanderson, in 1991 when they purchased a manufacturing site in Hawick that dates back to the late nineteenth century. The two families have stayed heavily involved in managing the operation and investing in Hawico’s manufacturing abilities and retail development.

Hawico has stores in Edinburgh, London, Gleneagles, and Turnberry in the UK, as well as in Germany, Italy, and Switzerland. It also has outlet stores in Harrogate, Hawick, Kelso and Stow-on-the-Wold.

Image: via Hawico website