The company began its manufacturing operations in Australia in 1921, as Felt and Textiles of Australia Ltd.[1] The company was publicly listed and acquired by Australian and New Zealand carpet manufacturer Godfrey Hirst Carpets after going into receivership in 2006.

Henri Van de Velde became managing director of Felt and Textiles in 1924, holding the position until his death in 1947.

[3] During this time the company expanded its product range and opened factories in New Zealand and South Africa.

During World War 2 the company made military boots and special hard felt for shell cases.

The yarns business was struggling due to the high dollar, decline in hand knitting and less use of wool in fashion fabrics.