Under the proposed Strategic Plan for the next three years, AWI will invest 60% of levy funds in marketing and 40% in R&D activities to help maintain the productivity, profitability and sustainability of Australian woolgrowing.
AWI has also proposed to increase its overall research and development expenditure in dollar terms through a defined draw down from the company’s reserves. While 40% of the overall AWI spend will be in the R&D field, the ratio of on farm to off farm research and development investment is proposed to be 25:15.
“During WoolPoll it is critical for growers to take the time to assess what AWI has delivered over the past three years. WoolPoll 2012 is an opportunity for woolgrowers to again vote on the future direction of their company,” AWI CEO Stuart McCullough added.
As part of any WoolPoll, AWI is required to conduct an independent and formal Review of Performance. This has been undertaken and will be available to all woolgrowers on the 21st of September with the Voter Information Kit that outlines in detail the investment plan for the 2013/14 to 2015/16 strategic period.
AWI has recommended Australian woolgrowers vote to continue the two per cent levy to insulate the Research, Development & Marketing investments against the cyclical nature of the industry. However at WoolPoll, woolgrowers have five levy options to vote on; 3%, 2.5%, 2%, 1% and zero.
Leading up to and during the WoolPoll voting period, there will be a range of information available and regional functions to attend for growers to make an informed decision.
“The next three years offer many opportunities and challenges for the industry. Your vote in support of AWI’s recommendation will ensure we can continue to build the momentum of investment that positions our product as the world’s best premium, natural, renewable fibre,” Mr McCullough added.
Australian Wool Innovation (AWI)
| On 2nd Aug 2021
Bangladesh recently lost its rank as the second largest apparel...
| On 2nd Aug 2021
The 19-member euro zone financial system expanded by 2 per cent in...
US real gross domestic product (GDP) increased at an annual rate of...
Delay in adopting water sustainability both financially & environmentally...
Marry with brand ethos
There was a certain switch, but it was not 100% pandemic related
Founded by Jimmy Lai, Giordano International Ltd, a Hong Kong based...
The Riri Group is a one-stop supplier of metal accessories for the luxury...
In the financial hub of eastern India, Kolkata, a humble production...
Michaela Griggs & Peggy Schulz
Founded in 1929, Barco Uniforms started as an apparel company for beauty...
Twinery Innovations by MAS
Twinery-Innovations by MAS is the innovation arm of Sri Lankan company MAS ...
Ventile is a registered trademark used to brand a special high-quality...
Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...
Anjali Bhaskar has an experience of 12 years in the fashion industry. She...
Designer <b>Suman Nathwani</b> talks about her journey of opening a...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.