Funding for growth
Hawico targets cat walk capitals for retail expansion
Hawico: new funding
Scottish cashmere brand Hawico is targeting fashion capitals in the next phase of plans to open more retail outlets overseas.
The family-owned manufacturer and retail company currently sells its designs in 14 stores in five countries.
It will use a seven-figure funding package from HSBC UK to acquire retail units in target locations, including Paris and New York.
The company will also draw on the bank’s support to complete renovations at its original Hawick store and engage in new marketing initiatives.
Ewan Thomson, director, said: “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.”
Hawico was founded by business partners, Jim Thomson and David Sanderson in 1991 when they purchased a manufacturing site in Hawick.
The two families have stayed heavily involved in managing the operation and continue to invest in Hawico’s manufacturing abilities and retail development.