Australian Wool Innovation (AWI) has completed its acquisition of The Woolmark Company.

As part of the deal, AWI has acquired the Woolmark brand, and committed itself to re-invigorating the brand and the wider wool-related industry.

"The integration will deliver an innovative company, with a clear focus for Australian wool in its key markets around the world," said AWI CEO, Craig Welsh.

"Throughout this integration process AWI will both inform and carefully consider the needs of all Woolmark licensees across 70 countries."

The merged company has began work on a strategic plan for the organisation, with the global marketing of Woolmark a priority.

Welsh added: "As the world textile market continues to change, there is a need to adapt to meet the international challenges to maintain our position and thrive in the highly competitive market.

"Speed to the market, proximity to customers and support for licensees are all key factors in the development of AWI's new business strategy. The new integrated business model will provide much closer relationships between research, development and marketing processes."

AWI also pledged to invest in the Woolmark brand, working with key business partners around the world to increase demand for Australian Merino wool.

"AWI will target leading companies in important markets - the creative design centres of Europe, the processing and manufacturing powerhouse of China, the retail brand and sportswear hub of the United States, the world knitwear centre of Hong Kong, and emerging markets such as India," Welsh said.

In August, just-style interviewed Craig Welsh about the impending merger, and the wool body has since been actively marketing 100 years of Merino wool.

Most recently, it held a 'Fleece to Fashion' Exhibition in London from 25 September to 4 October 2007. The exhibition showcased garments dating back to 1807, and images can be viewed via the image box above.