Monthly Market Reports
Monthly insights into economic, finance and trade issues affecting global demand for wool, and what this means for the Australian wool industry.
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The International Woolmark Prize is an annual fashion design award that identifies the world's foremost emerging designers, whilst highlighting the diverse interpretations of Merino wool within their collections.
The initiative is designed to generate long-term incremental demand for Australian Merino wool by increasing the knowledge of and lifetime loyalty to the fibre amongst the competition’s designers and alumni around the globe.
The involvement of the world’s leading fashion designers with Australian Merino wool is extremely important because of their enormous influence in setting global trends. What we see on the world’s catwalks this year quickly makes it into the mainstream fashion sector. The broader fashion industry looks to designers for the latest trends; their work with fabrics like Australian Merino wool has a trickle-down effect that should not be underestimated.
The competition is the pinnacle of AWI's activities to promote the use of Australian Merino wool in fashion. It has gained extraordinary momentum and evolved into a highly coveted, internationally recognised award. The phenomenal interest in these awards from fashion communities and media globally is helping put wool back on the agendas of a broader range of fashion designers, manufacturers, brands and retailers, and consequently into retail stores for consumers to purchase.
First held in 1953 as an initiative of the International Wool Secretariat (IWS), the award the following year helped launch the careers of iconic fashion designers Karl Lagerfeld and Yves Saint Laurent. The award was relaunched in 2012 by AWI’s marketing arm, The Woolmark Company.