Merino & Co has experienced an exceptional past few months, which has resulted in great exposure as a company and an iconic Australian brand entering the global stage.
Following two years of hard work to get IPO-ready, we successfully listed on the Australian Securities Exchange on 30 October 2024.
Our hard work was rewarded almost immediately, with an instant positive reaction from the market which has more than doubled our share price.
This reflects the desire by Australians to invest in our luxury Merino wool products, our expansion strategy and our commitment to promoting our nation’s heritage.
The uptake in shares and market performance proves that our homegrown story resonates with investors, and we are excited to have achieved such success so early on in our new growth chapter.
The decision to list on the ASX was guided by the potential opportunities presented by becoming publicly-listed Company – opportunities we are already capitalising on.
We have officially secured a new lease for a larger manufacturing facility in Wangara, Perth. The floor size of this premise is approximately 1,400m2, which is double the size of our current facility.
We have also secured four weaving loom machines and four automated socks knitting and sewing & setting machines, which will be delivered in February next year.
Excitingly, these machines are automated, and while we will still require a human touch on our products, these machines will assist with reducing the unit cost of production.
Additionally, we have leased 15 knitting machines to help boost the production capabilities in our signature knitwear.
Combined, all of these new machines will triple our manufacturing capacity and improve efficiency across our operations.
These latest changes are part of our overall strategy to rapidly scale our production capabilities, as we endeavour to expand our presence in new global markets.
We already have a significant presence in Australia and China as well as good exposure in Japan and North America, but our vision is to deliver our Merino wool products to the broader US and European markets as well.
The Company’s executive team has been actively engaging with potential new distribution networks as we work to establish trade routes into these primary markets.
Recently, we met with prospects in China at both a distribution and supply perspective, which provided insights into the options we have available to us as we work through our growth strategy.
I am proud of the progress we have made with our expansion plans since listing on the ASX last month and extend my gratitude to everyone involved in growing the Merino & Co brand.
At the heart of our business is a Company offering an authentic merino product range, in a global market that is forecast to reach $780 million by next year.
This presents both Merino & Co, and you as our shareholders, immense opportunities to capitalise on the rising demand for high-quality, sustainable Merino wool products.
Thank you for your ongoing support – I am excited for what 2025 holds for Merino & Co as we advance further onto the global stage.
Have a safe and happy festive season.
Fiona Yue
Managing Director
Merino & Co
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