After acquiring a sum of five million pounds from Lloyds Banking Group, Moray, Scotland-based cashmere apparel firm James Johnston & Co, better known as Johnstons of Elgin, is now considering branching out into foreign markets.
The firm employs 450 people at its headquarters in Elgin and another 250 at a manufacturing facility in Hawick. It is now hunting for graduates who can be trained to carry forward the task of expansion.
The expansion plans of the luxury goods firm are stimulated by increasing sales of its products in Asia and the Middle East. During the past few years, the company's turnover has grown by over 10 percent and the profits have been reinvested in the business.
The company, which was instituted as a family business in 1797, now has sales offices in Tokyo, London, Dusseldorf and the US along with shops in Elgin, Northumberland and St Andrews.
The firm preferred to raise funds for expansion in advance as majority of its work happens to be seasonal and in spite of its export markets stabilizing it wanted to ensure that it has enough funds to tackle seasonal ups and downs.
With a view to enhance its capacity and adaptability, Johnstons of Elgin has also introduced several new looms in its facilities as it looks upon investments as a mode to enhance quality and betterment of services.
Fibre2fashion News Desk - India
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