Woolmark announces 50% rise in marketing budget to £23 million
The quality assurance scheme for fleece, Woolmark, has revealed a 50 per cent boost in its marketing budget to £23 million as it looks to promote garments in fast-growing markets such as China.
Speaking to The Scotsman, Stuart McCullough, chief executive of Australian Wool Innovation, which owns the Woolmark Company, said that China represents an unprecedented opportunity for the industry.
McCullough said: “We’ve already helped Scottish firms like Johnstons of Elgin to sell their products in the Chinese market, which is massive.”
Australian Wool Innovation Limited licenses the Woolmark trademark to be used by affiliated vendors on their products as an assurance that the product conforms to a set of standards laid by the organization.
Up to 95 per cent of the world’s woollen clothes are made using Australian fleeces, including items spun at mills in Scotland and other parts of the UK.