Hawico sews up funding for expansion
A Borders-based luxury cashmere brand has received bank funding to help grow its product line and design capabilities.
Hawico, which manufactures cashmere garments in Hawick for retail at its international name-brand stores, has secured a £248,000 equipment finance loan to purchase knitting machines which are capable of creating whole knitted garments.
The specialist Shima Seiki machines are replacing older equipment, enabling Hawico to speed up production, reduce material waste and experiment with new patterns to expand product ranges.
Ewan Thomson, director at Hawico, said: “We pride ourselves on the fact that we are able to make cashmere garments that are wholly Scottish from start to finish.
“By providing access to new technology, we’re also hoping to encourage younger generations to enter the textiles industry.”
Hawico operates 13 stores across Scotland, England, Germany, Italy, Switzerland and Japan and also sells its products online.
The loan was provided by HSBC.