The logo, a sheep suspended in a ribbon, has served as a symbol of fine wool since the fifteenth century, when Philip the Good, Duke of Burgundy—an area renowned for its woolen fabrics—founded the Order of the Golden Fleece in 1430 as an enduring gift for his wife, Isabella of Portugal. At the time, it became one of the most prestigious orders in all of Europe.
And that wool was so fine that thieves would steal entire animals in the middle of the night. Those thieves came to be known as OWLS.
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