Hosiery and knitwear is familiar as a traditional British industry of small-scale family firms. Close study of success and failure in firms and industries reveals that much can be ascribed to the culture of the business, the historical traditions that govern the minds of leaders despite changing fashions, markets, and technology. Some deeply-rooted but often unarticulated attitudes and assumptions existed for generations. This is a pioneer study which traces in rich detail the tensions between internal aspirations of leaders (craftmanship, lifestyle, and supporting infrastructure) and external pressures (banks, wholesalers, chain store groups, and takeovers). Some outsiders, mostly from the Continent, challenged the hereditary leadership and outlook, but not enough to compel the industry to change its course. The industry's history is traced from its beginnings in the early 1600s down to the end of the twentieth century.