Cashmere firm banks on overseas growth plans

0 The firm sells its products in five countries, and is looking to launch sites in Paris and New York

A luxury cashmere brand based in the Borders is pursuing its global growth ambitions after securing a sevenfigure funding package.

Family-owned manufacturer and retailer Hawico was founded by business partners Jim Thomson and David Sanderson in 1991 when they bought a site in Hawick.

It now sells its wares in 14 stores in five countries, with a presence in the US, Europe and Asia.

The firm will use the new funding from HSBC UK to

snap up retail units in its target locations, including Paris and New York, as well as to complete renovations at its original Hawick store.

Hawico director Ewan Thomson commented: “Our future lies in the international expansion of the business and HSBC is eager to support that ambition.”

Nigel Kerr, relationship director at HSBC UK in Scotland, said: “We’re pleased to lend support to a successful Scottish brand as it pursues growth in new markets.”