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Wool Stocktake : AWI Annual Report 2015-16
STRATEGY 9: PRODUCT PROMOTION STRATEGY 9 RESOURCES DURING 2015/16 $8,889,000 project expenditure + 24 AWI staff (full time equivalent) INVESTMENT FOCUS • Continue to create new demand for wool through a comprehensive range of global and local collaborative promotions with targeted designers, brands, retailers and media that target high income consumers of luxury goods and premium apparel and seek to educate them and motivate them to purchase. • Simplify Woolmark branding and usage, and focus AWI investment with partners who will either build or leverage the value of the Woolmark brand. • Key markets are: USA, Japan, Greater China, United Kingdom, Italy, France, Germany, Australia and Korea. • Projects will be reviewed and approved based on their ability to position the fibre, build partnerships with brands, retailers and media, and generate incremental sales opportunities. Note: In the second half of 2014/15, AWI made the decision to move away from asset specific programs (Sports & Outdoor, Nurture by Nature, Urban, No Finer Feeling, Woolmark Gold and Cool Wool) to investments driven more by the demand for marketing assets by AWI’s individual marketing partners. The aim of the collaborations between AWI and its individual marketing partners was to increase the demand for Australian wool. Consequently, for 2015/16, Strategy 9 (Product Promotion) was expanded to include investment that would have otherwise been made in Strategy 7 (Category Management). Targets under the previous programs were aggregated. STRATEGIC TARGETS Targets for 2015/16 Progress during 2015/16 Maintain global media reach of 750,000+ people per annum. Achieved. Global media reach in 2015/16 far surpassed target. Expand number of partners to a consistent 50 partners in the premium/luxury space per annum. Achieved. 75 partners achieved. Increase wool sales across campaign partners by 1 million kg per annum with estimated additional sales across non-partners of 15%. Achieved. New demand estimated at 1.7 million kg. Continue development and roll-out of demand-growth programs in China reaching a minimum of 500 million people per annum. Achieved. According to the monitoring data, the total reach was more than 560 million by the end of June 2016. Increase preference for wool as a luxury product across consumers by 1% per annum (as measured by Nielsen research). Achieved. Neilson research shows an increase by 1% of surveyed consumers willing to pay either whatever it costs for 100% wool or if it costs more than any other fabric. Increase annual Cool Wool ticket and label sales by 5% per year. This is equivalent to an increase of 750,000kg a year by 2016. Partly achieved. The volume of Cool Wool ticket and label sales in 2015/16 was approximately 250,000 which demonstrates a reasonable level of interest from retail partners globally to label their products Woolmark/Woolmark Blend Cool Wool. The volume target has only been partially achieved – at 530,000kg. KEY RESULTS DURING 2015/16 • The No Finer Feeling fibre advocacy program continued to be available, as a marketing platform, to AWI’s marketing partners to help them position their Merino wool apparel as products of choice for fine, contemporary fashion. Since its inception, the program has involved AWI strengthening its partnerships with well-known designers and fashion houses to promote wool across the world. The program has had well above the target of 42 that AWI set out to achieve in its 2013/14–2015/16 Strategic Plan. • Leading marketer of ultrafine wool products Scabal collaborated with AWI to release a new collection of ‘Noble Fleece’ fabrics produced by ultrafine woolgrowers. Prestigious menswear publication The Rake with AWI support produced an associated two-part feature, plus two short films, highlighting the fibre to fashion journey and re- establishing the emotional connection between the exquisite fabrics and their origins. • Italian weaver Reda marked its 150th anniversary by showcasing the luxurious attributes of superfine Merino wool and the company’s close working relationship with Australian woolgrowers. An exclusive exhibition, produced by Reda in collaboration with AWI, showcased the fabric maker’s rich history with artful images of Reda’s wool supply chain – from farm to fabric – shot by five influential Magnum Photos Agency photographers. • AWI supported a ground-breaking exhibition in Florence that showcased Nino Cerruti and Merino wool to international press and fashion influencers. As a major partner, AWI played a key role in the exhibition, which launched during the influential men’s tradeshow Pitti Uomo. The beauty and the quality of Merino wool was well-expressed throughout the exhibition. 40 REPORT OF 2015/16 OPERATIONS – MARKETING
AWI Annual Report 2014-15
AWI Annual Report 2016-17