Menoshi Shina, the owner of Crew Clothing and Moss Bros, has quietly acquired a majority holding of Pringle of Scotland, according to a Companies House filing. While Shina was shown to have snapped up 75 percent of the heritage brand’s shares back in May 2023, the revelation only came to light in Pringle of Scotland’s most recent financial report.
In it, in which the 203-year-old company shares its results for the period ended December 31, 2023, Shina was listed as a director, with his appointment being the same date that the brand’s former owners, the Fang family, stepped down from their helm positions.
Broadgate 1960 Company Limited and its subsidiary Crew Clothing Co. Limited, meanwhile, were described in the report to be companies under common control. Sheila Geraghty, a director of Broadgate, was also appointed a director of Pringle of Scotland the same day as Shina.
In the 11 months ended December 31, 2023, Pringle of Scotland reported a turnover of 2,669 million pounds, down from the year prior, when turnover amounted to 4.045 million pounds. Operating profit also dropped, falling from 742,000 pounds to 332,000 pounds.
Shina’s takeover of Pringle of Scotland was confirmed in a statement to the Telegraph, to which a spokesperson for the brand said: “In July of 2023… the iconic fashion brand renowned for its quality and rich history, entered a new chapter as a member of the family of companies that includes Crew Clothing Company.
“Since the acquisition, the team has been focused on evolving the brand while honouring its legacy of producing high-quality, exciting collections. During this transitional phase, the team will leverage the expertise of other brands within the corporate family to enhance Pringle’s offerings. Further developments in the brand’s direction will be unveiled in the near future.”