Hawick Knitwear in turnaround after MBO

Twelve months after a management buy-out deal, 130-year-old Scottish knitwear firm Hawick Knitwear has seen its production double and has announced plans to take on 50 trainees over the next three years.

Benny Hartop, the former managing director of the firm under previous ownership, bought it from private investment group Harris Watson in November last year.

In April the firm recorded a 20 per cent rise in its revenues after an increase in custom, also leading to an increase in its staff numbers from 200 to 230.

The launch of its own brand range of luxury clothing in January is said to have helped increase sales. And to satisfy demand for the products the factory has doubled its weekly output to 19,000 garments, Mr Hartop said.

Speaking to Southern Reporter, Mr Hartop commented, “We continue to benefit from discerning consumers rejecting disposable fashion items from low-labour-cost countries in favour of buying authentic, British-made, luxury goods.”

“Despite having to accept huge raw material prices increases, we have had a busy year with branded range sales taking off and private label business up as well.”

The business now has more than 14 agents in 12 countries focusing on growing product demand in export markets.

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