Scottish businessman Ian Taylor has invested in a new company called Harris Tweed Hebrides, which will reopen a mill to produce the trademark tweed, it has been reported.

Taylor is estimated to have injected around GBP1m into the project, reported the Scotsman.

Weavers expressed their concern in May when Brian Haggas, who in December bought the KM group which owns 98% of Harris Tweed, announced plans to limit production to five patterns and restrict its use to men's jackets. The newly-formed Harris Tweed Hebrides intends to supply customers at the top end of the market, reported the FT.

Harris tweed is hand-woven in the homes of islanders of Lewis, Harris, Uist and Barra with pure wool and is exclusive to the area.