Pringle of Scotland puts breaks on business due to coronavirus
Iconic Scottish knitwear brand Pringle of Scotland has announced it will be pausing its business in the wake of the coronavirus outbreak, with the last collection for the foreseeable future set for AW20.
The brand’s owner, Douglas Fang, has reportedly said that he wishes to take time out to “rethink” Pringle’s business model and routes to market. How long that will take is unclear, though it will not return in its current format.
All production and activities are to be halted due to the impact of the coronavirus on the supply chain and consumer demand.
It was only as recently as AW19 that the brand collaborated with high street giant H&M, which featured iterations of Pringle’s iconic argyle sweater.
Robert Pringle established Pringle of Scotland in 1815 in Hawick, in the Scottish Borders. Initially the company simply produced hosiery and underwear. It has been producing cashmere since as early as 1870.
It was back in 2000 that the loss-making brand was sold to the Hong Kong-based Fang family. In early 2017, the Pringle of Scotland directors said they were “satisfied” with the company’s future prospects, despite racking up a £5m loss for the third year in a row.