Australian Wool Network (AWN) has moved forward in the wool textile value chain from brokerage to wool-made apparel retail by acquiring Victorian knitwear manufacturer and retailer, Hysport.
“The acquisition will allow AWN to move from brokerage services to vertically integrated wool marketing throughout the pipeline,” AWN said.
Hysport Pty Ltd manufactures garments made from pure wool and wool blends, which are marketed under the brands, Merinosnug and Emaroo.
According to AWN managing director John Colley, the acquisition would change the face of wool marketing for the company.
“Hysport provides us with a reliable means to deliver a genuine connection throughout the wool processing pipeline from wool grower to consumer,’’ he said.
“This is an exciting phase in AWN’s growth, as we take the opportunity to diversify our business and, at the same time, give our clients potentially different platforms to trade their wool,’’ he noted.
Hysport manufactures up to 72 different garments, retails at over 230 outlets across Australia and uses Australian wool yarn processed through network partners in New Zealand and Italy.
Hysport CEO Rod Murray said the factory ranked among the two largest knitwear manufacturers in Australia and used seamless technology.
Established in 1999, AWN now ranks as Australia’s third largest wool broker, marketing more than 235,000 bales of wool a year for over 5,000 growers. (AR)
Fibre2fashion News Desk - India