Wool fibre textile authority Australian Wool Innovation Limited (AWI) is joining forces with the International Wool Textile Organisation (IWTO) in a major test marketing campaign for Merino wool, developed by Australian Wool Services (AWS).
AWI Chairman Ian McLachlan said AWI would fund up to US$3.4 million, matched by the IWTO through commitments from processors and other producer countries.
AWI's original pledge of cash support, made back in April at the IWTO Congress in Hobart, was contingent on matching funds being banked.
Mr McLachlan said that although the matching textile industry funds have not been banked, the enthusiasm from the Australian trade and IWTO member countries, together with commitments made by IWTO President Michael Lempriere, have assured us that the matching funding will be forthcoming.
In addition, IWTO reduced the original requirement based on a revised smaller test marketing plan and therefore AWI agreed to match US$3.4 million under the revised plan.
They remain very excited by the enthusiasm first shown by international wool and textile businesses at Hobart to work together to build demand for Merino wool. Such a joint effort is unprecedented - in the past it has been growers, primarily Australian woolgrowers, who have funded marketing efforts.
IWTO and AWI - as the two cash sponsors of the test marketing campaign - will retain full management control of the project and determine the allocation of all resources for the campaign.
marketing@alchempro.com
