In 1870, Charles Stanfield established the Truro Woolen Mills on Brunswick Street, opposite the Intercolonial Railway station. He also built the St. Croix Woolen Mills in St. Croix and the Union Woolen Mills in Farnham, Quebec. The Truro Felt Works were later established east of the woolen mills and Stanfield finally established the current textile mill on the south bank of the Salmon River in the town in 1882.
In 1896, Charles Stanfield sold his business interests to his two sons, John and Frank. They renamed the Truro factory Truro Knitting Mills Limited and concentrated on knitted merchandise. Their company was innovative and sold many products in the form of shrink-proof heavy woolen underwear that were used by workers during the Klondike Gold Rush in the late 1890s.
This early success led to the 1906 establishment of Stanfield's Limited. In 1910, Stanfields bought out Hewson Woollen Mills in Amherst, which was renamed Amherst Woollen Mills.
Business was brisk during both world wars and Stanfield's expanded into t-shirts and other garments following World War II.
Diversification and innovative leadership focused on its workforce and customer requirements allowed the company to weather the economic hurdles posed by free trade; today it is one of Canada's leading garment manufacturers.