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Australia: AWI to go for innovation in Merino wool promotion |
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2004-7-28
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An extra $20 million over the next four years will boost Australian Wool Innovation Limited (AWI) drive more Merino wool products onto retail shelves.
This will enhance the work AWI is already doing with designers, garment makers and retailers to inject wool into each fashion cycle using the best new technologies and innovations.
As per AWI Chief Executive Officer Dr Len Stephens, the additional funding was approved by the Board late last week as part of the company''s revised five-year strategic investment plan which budgeted $75 million for both on-farm and off-farm research, development and innovation (RDI) in 2004/05.
The 2004/05 budget includes $35.5 million in off-farm RDI investment and $29.5 million in on-farm RDI. Further, AWI would continue to invest in information and education programs across both areas, with $10 million allocated for this financial year.
"It is clear from analysis of the wool apparel market undertaken as part of our strategic planning process, from the recent IWTO retail survey and from wide consultation across industry, that we need to work harder at getting wool innovations to market," Dr Stephens said.
"We have said that we will do what is necessary to develop Merino wool apparel products to the point that retailers want to sell and promote them. This will do that - this is about AWI marketing new wool products to retailers with the consumer in mind."
Dr Stephens said while the focus would be on the large northern hemisphere consumer markets - the end users of 98 per cent of Australian wool - major retail users of wool on the local market would also be targeted.
An example of the new approach is the ''Transeasonal blends'' retail project, also approved this week, which aims to extend the season for wool women''s wear into spring by blending fine Merino wool with other fibres for improved colour, drape and handle.
AWI will work closely with selected internationally renown designers and fabric manufacturers to create the fabrics, and then work with key retailers to get garments onto shelves for the northern hemisphere 2005 spring.
In addition to more retail-focused market development, extra market support will also be provided to ensure innovative fabrics developed by AWI such as Woolfleece, reach a wide market.
"With Woolfleece for example, AWI will work with joint development partners The Woolmark Company, to target key retailers and get the product to market," Dr Stephens said.
"For other projects our work could involve funding for technical sales teams, garment samples for retail demonstrations and wearer trials, assistance with retail marketing plans, and preparation of point of sale material that highlights the innovation."
Dr Stephens said that these market development activities were within AWI''s mandate to facilitate the dissemination, adoption and commercialisation of RDI in the wool industry. |
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