Scottish luxury cashmere brand, Hawico, is continuing to invest in international retail expansion and brand development after securing a seven-figure funding package from HSBC UK.
The family-owned manufacturing and retail company currently sells its designs in namesake stores across the globe and is stocked in luxury clothing boutiques in North America, Europe and Asia.
With its sights firmly set on opening additional Hawico stores internationally, the business will use the funding from HSBC UK to snap up retail units in its target locations, including Paris and New York, as they become available.
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 at Hawico, 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.”
Nigel Kerr, relationship director at HSBC UK in Scotland, said: “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 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.
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