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Pringle sees heavy investment
Reports about Scotland-based knitwear brand, Pringle’s £9m topping loss for the third year running have undoubtedly raised questions about how long it can continue to sustain such losses.
However, its owners, Hong Kong’s Fang family, which bought it from Dawson a decade ago, seem committed to their goal of increasing the brand’s cachet among the rich and famous, deciding to invest £18m into it this year, insisting profits are a long term goal.
There is much to do for its chief executive Mary-Adair Macaire, formerly employed by Chanel, however, her marketing background and focus on ensuring the brand is seen at high profile events such as London Fashion Week will hopefully bring positive results, widening the brand’s appeal beyond the golf course.
Although the company no longer manufactures, it seems committed to sourcing in Scotland, using heritage as part of its marketing plans.
Whether these factors will be enough to stem the losses remains to be seen.