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.
Fibre2fashion News Desk - India
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