Shetland Woollen Co traces back to 1924, when the original company, L.J. Smith, began trading in woven and knitted goods from Hoswick, Shetland. It is one of the few knitwear factories still operating in Shetland, designing and making its jumpers, Fair Isle yokes, and cardigans on the islands with a small team. The company became employee-owned in 2019, a change made to keep the operation locally run rather than sold to an outside owner.