Latest news with #Bremworth
National Business Review
16-05-2025
- Business
- National Business Review
No reasons given for sudden Bremworth departures
Carpet maker Bremworth has given no reason why two senior executives have suddenly quit the company. The NZX-listed company announced late Friday afternoon that its chief operating officer Nicola Simpson and chief brand and product officer Rochelle Flint have both resigned and will leave the company
Otago Daily Times
13-05-2025
- Business
- Otago Daily Times
Bremworth in U-turn on synthetics
Former Bremworth chief executive Greg Smith favoured strong wool carpets over synthetic carpets, but the company will go back to manufacturing both. PHOTO: TIM CRONSHAW New Zealand carpet manufacturer Bremworth has done a U-turn a few weeks after the departure of former CEO Greg Smith to announce it will go back to making synthetic carpets. The listed company told NZX on Friday it would be reintroducing synthetic carpet to its wool carpet manufacturing in response to feedback from its major partners. Bremworth said this would improve its factory output from greater volumes of carpet being produced. Under Mr Smith's nearly four-year leadership he championed a shift to a wool-only strategy and introduced 10-year strong-wool contracts. He stepped down with his final day on April 30, replaced by interim chief executive Craig Woolford for a year until a successor is found. Bremworth plans to restart producing synthetic carpet at its Auckland site in the next financial year. In an NZX statement, the company said the move would allow it to better meet the expectations of major carpet retailers in New Zealand and Australia, who had expressed a preference for it to return to supplying both wool and synthetic carpets. "The new synthetic range, which will initially comprise a small, but carefully curated, number of products, will be distributed under a separate brand to distinguish these products from its Bremworth-branded all-wool products," it said. Bremworth expects this will be achieved without new capital expenditure as the company already has the equipment and capability within the existing business. A minor increase in headcount is likely to support the lift in carpet manufacturing. Bremworth said it remained committed to growing and strengthening its wool carpet segment, which was expected to be assisted by the broader production base. Mr Smith's departure follows a board reshuffle in March. Rob Hewett is the new chairman.
RNZ News
12-05-2025
- Business
- RNZ News
Carpet maker Bremworth reverses wool only policy
Photo: Bremworth Carpet maker Bremworth has reversed its wool only policy and will soon start making synthetic carpets again. The NZX-listed company, which stopped producing synthetic carpets in 2020 in favour of a wool-only policy , will restart production of synthetic carpets at its Auckland facility in the next financial year. It comes following a recent shake-up of the Bremworth board, with group of unhappy shareholders, led by new chair Rob Hewett, prompting the departure of three sitting directors . Its chief Executive Greg Smith has also stepped down after four years. Hewett earlier said the coup was prompted by the company's slumping profits , with revenue falling from $148.1m in 2018 to $80.3m in 2024. The dissenting group said the decision to stop selling synthetic carpets in favour of wool-only products had not resulted in improved sales, while operating costs remained high. Hewett, who replaced former chair George Adams, said there was strong demand from major New Zealand and Australian carpet retailers for Bremworth to produce both synthetics and wool. He said by not having synthetics in their portfolio they had made things more difficult. "The challenge that we have with the business is about 85 percent of the carpet floor covering market is not wool and we're missing out on it. We need to spread our costs across a wider base. Our customers are clearly looking for a synthetic product." He said they were also very mindful of stakeholders. "I am a farmer of wool and I do this with a heavy heart but the company's viability quite frankly is at stake here." It also follows Bremworth settling with rival carpet maker Godfrey Hirst, settling court proceedings in relation to a past marketing campaign Bremworth initiated in 2020 when it ceased producing synthetic carpet and moved to manufacturing wool carpets only. Godfrey Hirst alleged that aspects of that campaign mischaracterised the relative environmental and health impacts of synthetic and wool carpets and breached the Fair Trading Act. Bremworth denied breaching the Act, but acknowledged certain parts of its past advertising from the 2020 marketing campaign may have misled some consumers. These had been removed and would not be used again. The new synthetic range, which will initially comprise a small, but carefully curated, number of products, will be distributed under a separate brand to distinguish these products from its Bremworth-branded all-wool products. No new capital expenditure is required and the company anticipates a minor increase in headcount to support the additional volume. Hewett expected having a complete portfolio will actually help them grow wool product sales. However, Federated Farmers meat and wool chair Toby Williams said the wool industry was teetering and this would further knock farmer confidence. "It's a tough pill to swallow for the industry." He said it was disappointing but understandable. Williams acknowledged Bremworth was a business though and shareholders had a right to expect returns. He said it was important for people to start recognising the environmental benefits of wool, especially with declining sheep numbers and farmland being converted to carbon forestry . Andy Caughey, chief executive of industry group Wool Impact, said Bremworth manufacturing synthetic carpets again didn't minimise their commitment to wool or their wool carpet offering. "This range extension, which includes synthetics, will strengthen the company's operating model by optimising its manufacturing capacity and generating more revenue as it continues to invest and expand its wool business," he said. "The world needs more wool." Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
National Business Review
09-05-2025
- Business
- National Business Review
Bremworth's sheep farmer chair defends shift to synthetic carpets
Rob Hewett, the new chair of NZX-listed carpet market Bremworth, has defended the company reintroducing synthetic carpets despite spending the past five years marketing the benefits of all-wool natural fibres. In a statement to the NZX this morning, the company said the move was in response to
NZ Herald
09-05-2025
- Business
- NZ Herald
Bremworth's synthetic carpets U-turn after all-wool model
NZX-listed Bremworth says it will start making synthetic carpets again - reversing a decision made in 2020 to focus on woollen carpets only. The company said its move was in response to feedback from major partners. Bremworth said the move would also allow it to achieve improved factory utilisation through
