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 South Korean retail company E-Land has bought knitwear firm Lochcarron, based in Borders region of Scotland.
This is the second acquisition by the South Korean company in the Borders region. E-Land, one of the largest retail and fashion companies in South Korea, had previously acquired Hawick-based knitwear firm Peter Scott.
Established in 1947, with its head office in Selkirk, Lochcarron describes itself as ¡°one of the most diversified textile companies in the world¡±. In 2007, the company had manufactured a special green tartan, and presented it to actor Mike Myers during the launch of the film ¡®Shrek the Third¡¯.
The deal will increase E-Land¡¯s presence in the Borders region. It would also bring E-Land¡¯s expertise in developing new products.
Alistair Buchan, retiring Chairman of Lochcarron said that the deal would secure the firm¡¯s future. ¡°E-Land¡¯s established global presence will help Lochcarron to grow and prosper in the world of prestigious textiles,¡± he added.
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| Fibre2fashion News Desk - India |
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