Australian Wool Innovation (AWI) announced that it has completed its acquisition of The Woolmark Company.
AWI is the research, innovation and marketing arm of the Australian wool industry.
As part of the integration, AWI has acquired the Woolmark brand, and committed to re-invigorating the brand and the wider wool-related industry.
The company will continue to operate as The Woolmark Company.
“The integration will deliver an innovative company, with a clear focus for Australian wool in its key markets around the world,” said AWI Chief Executive Officer, Craig Welsh.
“Throughout this integration process AWI will both inform and carefully consider the needs of all Woolmark licensees across 65 countries.
“As the world textile market continues to change, there is a need to adapt to meet the international challenges to maintain our position and thrive in the highly competitive market.
“Speed to the market, proximity to customers and support for licensees are all key factors in the development of AWI's new business strategy. The new integrated business model will provide much closer relationships between research, development and marketing processes.”
Work has already commenced on developing a strategic plan as part of the commitment to build a world-class organisation, and propel the Australian wool industry onto the global marketplace.
The marketing of the Woolmark brand globally will continueto be a priority for AWI.
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