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Wool Stocktake : AWI Annual Report 2017-18
GLOBAL CAMPAIGNS STRATEGY EXPENDITURE DURING 2017/18 $6,853,000 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 2017/18 1. An additional 3.5 million kgs in new demand by 2019. On target. A survey will be undertaken in September 2018 to clarify figures. 2. Grow the Alumni database by 60 new designers annually. Achieved and exceeded for 2017/18. The alumni database increased by more than 300 contacts in 2017/18 as a result of a new online application portal launched via woolmarkprize.com. From these applicants, 42 designers were selected globally to participate in the 2018/19 award. 3. Grow media awareness and editorial coverage by $10 million. Not Achieved. Editorial value is currently less than the previous year at $12,337,182, however reach has remained the same with a 1% difference YOY. This is a strong reflection of the changing media landscape, were social and digital is more mainstream but not valued comparably with print. Our reach has increased exponentially but value hasn’t because the majority of IWP coverage is socially driven. It is worth noting, the PR industry has moved away from using editorial value as a benchmark and now focuses primarily on reach. It is recommended that KPIs for awareness are adjusted for next strategic period. Social engagement for the prize continues to increase; total reach increased YoY by 23%, total impressions increased by 6% and post engagement rose by 173%. The IWP continues to be ranked as the top performing content across TWC social channels. 4. Grow the retailer partner network by 3 new retailers from a base of 11. Achieved and exceeded. New retailers are: Takashimaya, Japan; Lane Crawford, China; Hudson’s Bay Company, Canada; ssense.com, global online retailer; Harvey Nichols (for menswear), UK; Tata Cliq Luxury, India, Parlour X, Australia; Sugar, Italy; Leclaireur, France; and Farfetch.com, global online retailer. KEY RESULTS DURING 2017/18 • 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 2017/18, the International Woolmark Prize continued to be the ‘jewel’ in AWI’s fashion promotion activities. It is designed to generate long-term incremental demand for Australian Merino wool 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 2017/18 competition were held following a global search, and involved 65 emerging designers nominated by fashion industry bodies in their respective regions. For the 2017/18 competition, six regional finals were held covering Asia; Australia & New Zealand; British Isles; Europe; Indian Subcontinent & the Middle East; and the USA. 20 REPORT OF 2017/18 OPERATIONS – MARKETING
AWI Annual Report 2016-17