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Wool Stocktake : AWI Annual Report 2015-16
PROGRAM 4: PR AND INTERNATIONAL WOOLMARK PRIZE INVESTMENT FOCUS International Woolmark Prize (IWP) • Up to twenty emerging designers are nominated from six regions each year to submit a collection of wool garments for judging by a panel of judges at a regional level. Regional winners then compete for the international prize and the winner’s collection is made available for sale through leading global retail partners. • An active, high-value alumni consisting of the combination of the world’s leading designers and design influencers, with the contestants and winners of various levels of the competition, all centred around and brought together by wool. • AWI funds are used to promote the IWP through partners such as Vogue and for administration of regional and international events, including prize money for finalists. Other projects • Public Relations (PR) activity around the fibre and its source through global and local PR support across retailers, designers and key partners. STRATEGIC TARGETS Targets for three-year period 2013/14 to 2015/16 Progress during 2015/16 Engagement of markets growing from the current 21 to 30 by 2015/16, with the number of retailers carrying IWP garments expanding to 15 across key markets. Achieved. The initiative expanded from 23 countries in 2015/16 to 62 countries for the 2016/17 competition currently under way. 10 retail partners, 15 trade partners, 28 nominating bodies and 8 sponsors were secured for 2016/17. Media reach in the first four months of this campaign was 515 million; on a full year basis we expect this to exceed 600 million in 2013/14, 800 million in 2014/15 and 1 billion in 2015/16. The latter would have a media value in excess of $40 million. Partly achieved. Media reach statistics in 2015/16 reached 2.2 billion. The weak Australian dollar resulted in less than expected editorial value, however this was largely offset by a large increase in social media coverage. An additional 700,000 wool garments sold each year. Achieved. Based on an average garment weight of 650 grams and 75% wool content, the increase in wool was estimated at 340,000 kg a year. It is estimated that during the three-year strategic period, AWI investment of $15 million delivered an impressive return of just under $50 million in present value returns back to woolgrowers. KEY RESULTS DURING 2015/16 International Woolmark Prize • To achieve its mission of increasing the global demand for Australian wool, it is vital for AWI to reinforce the presence of Australian Merino wool in the international fashion industry. In 2015/16, the International Woolmark Prize continued to be the ‘jewel’ in AWI’s fashion promotion activities. It is designed to generate long-term incremental demand by connecting emerging designers, emerging markets and consumers. New demand comes from the creation of increased knowledge of and lifetime loyalty to wool amongst designers, along with the immediate presence of Woolmark- branded Merino wool collections in the top boutiques and retailers across the globe. • The regional finals for 2015/16 International Woolmark Prize were held following a global search, reaching across 23 countries and involving 70 emerging designers (41 womenswear, 29 menswear) nominated by fashion industry figures in their respective regions. For the 2015/16 competition, the number of regional finals expanded from five to six, now including the British Isles as well as Asia; Australia; Europe; India, Pakistan & Middle East; and the USA. The 2016/17 competition – currently under way – further expanded the number of countries involved to 62. • Following the expansion of the competition into menswear as well as womenswear in 2014/15, SUKETDHIR from India became the winner of the International Woolmark Prize menswear competition for 2015/16, presenting Merino wool Suket Dhir with AWI CEO Stuart McCullough after his eponymous label won the menswear edition of the International Woolmark Prize in January. PHOTO: Studio Nonamephoto Firenze. 38 REPORT OF 2015/16 OPERATIONS – MARKETING
AWI Annual Report 2014-15
AWI Annual Report 2016-17