By  on June 18, 2012

The Australian wool industry is waking up from a long slumber.

A combination of economic, ecological and consumer trends, in addition to some misguided marketing strategies, put Australia’s wool growers, who provide about 85 percent of the world’s fine merino wool, into a downward spiral from which they have just begun to emerge. Australian Wool Innovation, the marketing arm of Australian wool growers, admittedly abandoned the U.S. market and curtailed promotional initiatives due to depressed supply and demand because of a 10-year drought in Australia.

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