Krenholm Manufacturing, a significant textile production facility, was located in Narva, which at the time was part of the Russian Empire. It was founded by a cotton merchant from Bremen, Ludwig Knop. At the time of its establishment, it was the largest company in the world, occupying 32,000 acres of land and providing jobs for up to 12,000 people. After Estonia regained independence in 1994, the company was privatized, and in 2010 it was declared bankrupt. In 2012, the rights to use the brand "Krenholm Manufacturing" were acquired by a small textile enterprise in Narva, which became known as LLC "Krenholm Manufacturing."

The history of the enterprise began in 1857 when Ludwig Knop, along with Kozma Soldatenkov and Alexey Khlyudov, founded the "Krenholm Manufacturing Partnership." Industrial buildings were constructed: the Old (1858) and New (1862) factories on Krenholm Island and at the Narva Waterfall, a spinning mill (1870), the Joala factory (1884) on the left bank of the Narva River, and the Georgievskaya factory (1899). About 4,500 people worked at the enterprise.

The manufacturing facility was located along the Narva River and on Krenholm Island, approximately 10 miles from the river's mouth. In the river port of Ust-Narva, there were warehouses for storing cotton imported from the USA or Liverpool and delivered to the factory by river. The enterprise was powered by a waterfall about 11 meters high and 11 water turbines with a capacity of 8,550 horsepower, as well as steam engines with a capacity of 700 horsepower.

In 1872, during a cholera epidemic, 420 workers died, which led to the Krenholm strike, the first major strike in the Russian Empire. Troops were brought in to suppress it. A government commission that studied the situation recommended improving working conditions.

By 1893, the production used 340,000 spindles and 22,000 looms, requiring 6,000 horsepower. About 7,000 people worked at the manufacturing facility. Yarn was sold in St. Petersburg and Moscow, while fabric, mainly satin, was used for manufacturing automobile tires and sold in Moscow.

The managers of the manufacturing facility were English, while the workers were mainly Russians, Estonians, and Poles. The company cared for the welfare of its employees, had a hospital and a school, and built churches for different denominations. Workers lived in factory barracks, paying a symbolic rent. In 1890 and 1908, under the guidance of architect P. V. Alish, a complex of buildings was constructed to improve infrastructure.

After World War I, the Estonian cotton industry experienced a crisis, leading to the closure of the factory due to a lack of market in Soviet Russia. By 1944, the enterprise, which was in ruins, was nationalized by the Soviet Union and became a major industrial site once again.