History

Graziers’ Investment Company Limited has a long history stretching back over sixty years.

1936-1953

The Australian Wool Board was established under the Wool Publicity and Research Act, 1936 with the aims of improving the production of wool in Australia and of extending the use of wool throughout the world. In 1937 the International Wool Secretariat (IWS) was founded with Australia, New Zealand and South Africa as the first member countries, later (1970) to be joined by a fourth member, Uruguay.

1945

IWS’s role as supporter of research quickly became an important one, with the annual budget growing to equal the whole pre-war sum. IWS had also found a new role in supporting special export promotions to the USA and South Africa to earn extra export income. During World War II raw wool reserves to civilians were rigorously rationed, as the armed forces and exports needed the supplies.

1940’s

The late 1940’s saw great progress being made by IWS into it becoming an international organization.

1947

IWS was set up in Belgium, France and Italy.

1948

IWS was set up in Canada, Holland, Sweden and Switzerland.

1951

IWS was set up in Germany.

1952

IWS was set up in Japan.

1953

The Australian Wool Bureau was created by the Wool Use Promotion Act 1953 and given powers to sponsor research which complemented the work funded by the Wool Research Committee.

1963-1973

Wool Board re-constituted in 1963 with powers covering wool promotion within Australia, the financing of Australia’s share of international promotion through the IWS, the operations of the statistical service, wool research, wool testing (AWTA) and to advise on raw wool marketing.

1964

International identity for wool, an individual image sought, which would hold consumer confidence and represent quality standards. This caused massive upheavals within the company, but eventually an international competition was established and an Italian graphic artist, Francesco Saroglia in Milan, won the right to design a logo for IWS - the Woolmark.

1969

Over the years as IWS continued to expand in size and profit, the company was starting to adapt to the new environment and branch out into new areas such as knitwear, including menswear and womenswear, and carpets.

1971

The Woolmark Blend was introduced to support the growing area of innovative Wool Blends.

1993

AWRAP - Australian Wool Research and Promotion Organization - was established on 1 December 1993 under the Australian Wool Research and Promotion Organisation Act 1993.

1994/95

AWRAP and IWS activities merged and managed as one organization under AWRAP control.

1997

IWS created a corporate vehicle IWS International Pty Limited which changed its name to The Woolmark Company Pty Limited.

1998

Grower discontent was high when at the November 1998 Annual General Meeting of AWRAP they carried a vote of no confidence in the board of the Australian Wool Research and Promotion Organisation (AWRAP). The Commonwealth Minister for Agriculture, Fisheries and Forestry (Hon Mark Vaile, MP) then terminated the appointment of the Chairman and all board members of AWRAP. He also announced the formation of a Wool Industry Future Directions Task Force.

1998

Differentiation and segmentation of wool products through a range of sub-branding programmes established.

1999

Following the McLachlan report (Wool Industry Future Directions Taskforce), the Wool Working Party was formed to progress some of its recommendations.

Minister announces that he proposes to reduce the levy from 4% to 3% from 1 July 2000 subject to the result of a ballot, and lower should the ballot show a preference for that, with the establishment of a new company/corporation.

1999

The Wool Blend logo was developed and launched to support and promote fabrics containing between 30% and less than 50% new wool, adding value to blends while assuring the quality to the consumer and trade.

2000

Woolgrowers were given an opportunity by means of a poll to express an informed view on a full range of service delivery and levy options. The vote showed a preference for a service model of 2%. Wool industry Interim Advisory Board established.

May 2000

Appointment of Mr Rodney Price as Chairman of the wool industry Interim Advisory Board.

August 2000

Minister Truss announced details of the establishment of the new commercial wool company to replace AWRAP, AWRAP to be restructured into a corporations law holding company (Australian Wool Services Limited) limited by shares with two main subsidiary companies. One subsidiary to be known as The Woolmark Company Pty Ltd, involving the commercial development of the Woolmark and its sub-brands and the commercialization of intellectual property matters. The other subsidiary to be known as Australian Wool Innovation Limited managing the proceeds from the wool levy and outsource R&D and intellectual property management.

August 2000

Wool moves into the active and leisurewear arena, with the launch of Sportwool in partnership with the world renowned football club Manchester United.

September 2000

Legislation to implement the reforms was introduced into Parliament.

1 January 2001

Australian Wool Services Limited replaces AWRAP. Two subsidiaries, Australian Wool Innovation Limited and Australian Wool Services Limited are established.

30 April 2002

De-merger of Australian Wool Innovation Limited (AWI) from the AWS Group completed.

October 2007

AWI acquires The Woolmark Company Pty Limited from AWS.

30 November 2007

Shareholders of AWS approve a change of company name to Graziers’ Investment Company Limited.

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