Luxury goods firm Chanel has bought the Barrie Knitwear cashmere mill in the Scottish Borders, following the collapse of owner Dawson International.
The deal is expected to secure all 176 jobs based in Hawick.
Barrie Knitwear was a trading division of Dawson International, which was placed in administration in August because of the size of its pension liabilities.
Chanel fashion president Bruno Pavlovsky said: “The acquisition of Barrie business by Chanel is all the more natural as the factory has worked with us for more than 25 years, producing cashmere knitwear including Chanel’s iconic two-tone cashmere cardigans.
“Through this acquisition, we reaffirm our commitment to traditional expertise and craftsmanship, and our wish to safeguard their future and support their development.”
Chanel said Barrie would continue to “pursue its partnerships with all major luxury brands, with no exclusivity” and grow its own brands presence around the world.
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