CHANEL has agreed a deal with administrators KPMG to purchase Burnfoot-based cashmere knitwear manufacturer Barrie Knitwear.
The sale will see Chanel acquire the business and assets of the Hawick company, a trading division of Dawson International Trading Ltd which was placed into administration in August.
Chanel’s acquisition of Barrie Knitwear secures the jobs of all 176 employees and safeguards a historic brand known for the manufacture of high quality cashmere for some of the world’s most prestigious couture houses, department stores and private label outlets.
Bruno Pavlovsky, Chanel’s Fashion President, 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.”
Blair Nimmo, head of restructuring at KPMG in Scotland and joint administrator of Dawson International Trading Ltd, said: “With the sale to Chanel, we believe we have secured a sustainable future for a business which is of both historical significance to the textile industry and of local importance as a major employer in the Scottish Borders.
“We would like to thank the staff, customers and suppliers for their patience, loyalty and understanding as we worked towards achieving this sale.”
The current management will continue to manage the company, with Jim Carrie as Managing Director and Clive Brown as Sales Director.
Barrie will pursue its partnerships with all major luxury brands, with no exclusivity, and grow the presence of its own brands throughout the world.