Peal opened the first shop as a men's haberdashery in March 1936; during the war, stationed in the Shetland Islands, he supplied sweaters woven from Shetland wool, then reinstated cashmere as his principal material in peacetime. After decades of decline the original company ceased trading in 2006, and Adam Holdsworth bought the name in 2007, running it today with a North Yorkshire head office, a London design team and vertically integrated production 'from goat to garment' in Mongolia and China.
The Burlington Arcade flagship was fully refurbished in 2013, and N.Peal opened its first US store on Madison Avenue in 2018. The house has a long association with James Bond: stylists chose a 'lapis blue' N.Peal sweater for Daniel Craig in Skyfall (2012), continuing through Spectre and No Time to Die.