South Korean Firm Buys Lochcarron of Scotland
E-Land, one of the largest retail and fashion firms in South Korean, has bought over knitwear firm Lochcarron of Scotland, it has been confirmed. The owners of the Selkirk based company, John Buchan Ltd said that the deal would guarantee the company’s presence as a manufacturing business in the Borders, adding that it would also “provide the support and expertise to further develop new and existing products”.
Alistair Buchan, Lochcarron’s retiring chairman, said that he believes that “E-Land’s established presence in the global marketplace will enable Lochcarron to continue to develop and prosper supported by such a major force in the world of prestigious textiles”, and that the deal will secure the company’s long-term future.
Lochcarron of Scotland started off as a family business over 60 years ago and has created itself into a massive company, expanding into North America to keep up with the rapidly growing market over in Canada and the US. The company say they have a “full and extensive range of traditional Scottish Highland Wear and its world famous collection of over 700 stock supported authentic tartans allow our customers a wide and varied choice.”
This morning one of our team went to visit Lochcarron and says they were all really positive about E-Land buying the company. E-Land are looking to greatly increase Locarron’s manufacturing ability – in a short time span as well, we’ve heard – before christmas. This is great news for Scottish made products and will give a huge boost to local employment. So all good news.