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Wool Stocktake : AWI Annual Report 2016-17
GLOBAL CAMPAIGNS STRATEGY EXPENDITURE DURING 2016/17 $6,095,000 project expenditure INTERNATIONAL WOOLMARK PRIZE INVESTMENT FOCUS Alumnus Partnerships with influential industry experts in marketing, retail and business to offer independent advice to alumni and specifically winners on how they can maximise their relationship with TWC and the fibre. Events / Content Create inspiring events that tell the story of the fibre in a unique way and encourage top level media attendance and content opportunities for continued editorial and social media coverage. Retail / Commercialisation Support for international retail launch activities including, events, merchandising and designer appearances for maximum engagement with VIP shoppers, media and staff to promote the benefits of the fibre. STRATEGIC TARGETS Targets for three-year period 2016/17 to 2018/19 Progress during 2016/17 1. An additional 3.5 million kgs in new demand by 2019. On target. A survey will be undertaken in March 2018 to clarify figures. 2. Grow the Alumni database by 60 new designers annually. Achieved and exceeded for 2016/17. 72 new designers have been added to the Alumni database for 2016/17. 3. Grow media awareness and editorial coverage by $10 million. In progress. Editorial value for 2016/17 ($28 million) was less than the previous year. This was due to the reduced number of events (one final event now covers both the menswear and womenswear awards) and reduced media engagement at regional awards level. However editorial coverage is still strong and many traditional articles/channels have been replaced with increased social media engagement on social media platforms, which is a common trend in social/fashion coverage. Social media engagement is up by 165% on last year. 4. Grow the retailer partner network by 3 new retailers from a base of 11. Achieved and exceeded. New retailers are Lane Crawford, China; Hudson’s Bay, Canada; ssense.com, global online retailer; Harvey Nichols (for menswear), UK; De Bijenkorf, Netherlands. KEY RESULTS DURING 2016/17 • 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 2016/17, 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 the 2016/17 competition were held following a global search, reaching across 62 countries (an increase of 36 countries) and involving 78 emerging designers (47 womenswear, 31 menswear) nominated by fashion industry bodies in their respective regions. For the 2016/17 competition, six regional finals were held covering Asia; Australia & New Zealand; British Isles; Europe; India, Pakistan & Middle East; and the USA. Victoria Beckham, Fashion Designer; Dame Natalie Massenet DBE, Chair of British Fashion Council; Miroslava Duma, CEO and founder of Fashion Tech Labs and Buro 24/7 look on attentively during judging of the 2016/17 womenswear final. 18 REPORT OF 2016/17 OPERATIONS – MARKETING
AWI Annual Report 2015-16