Home / Knowledge / News / Textiles / Wools of New Zealand takes a leap forward
Wools of New Zealand takes a leap forward
Feb '13
Wools of New Zealand (WONZ) has completed raising the minimum requirement of NZ$ 5 million in capital from wool growers for establishing a farmer-owned strong wool sales and marketing company, according to Federated Farmers.
Last year, WONZ had extended the deadline for its share offer to wool growers until February 25, 2013, to provide every opportunity for growers to take advantage of the offer, which then remained short of the minimum required level of $5 million.
Achieving the $5 million threshold would enable WONZ to fully engage in its projects and businesses, including promotion of wool in international markets and establishment of supply chains.
WONZ plans to develop strong brand identity for New Zealand wool, while building on existing market connections, Federated Farmers said.
WONZ expected to raise $10 million for starting a company for benefitting wool growers in New Zealand, but it has achieved only half of the target so far.
Achieving the minimum threshold provides an opportunity for WONZ, which has been so far run by a trust, to further proceed towards establishing a farmer-owned sales and marketing company for more use of wool in carpets and textiles.
The achievement has come after several earlier attempts to form farmer-owned groups to raise the profitability of wool growers by controlling the supply of wool from farm to market, through branding, promotion and sales. 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 28th Apr 2017

Fix 5% GST rate for textile goods: Textile bodies

Uniform levy of 5 per cent Goods and Services Tax (GST) on all...

Textiles | On 28th Apr 2017

India lifts CVD imposed on Nepali Jute goods

The countervailing duty (CVD) that was imposed on Nepali jute...

Courtesy: Williamsburg Garment Company

Fashion | On 28th Apr 2017

'We have grown by staying small & maximising efforts'

The easiest way to go out of business is to be too big or expand too...

Interviews View All

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search