Shanghai fashion designer Qiu Hao will receive in-kind industry support to the value of about $170,000 to source material as well as in production, presentation and promotion of one of his collections.

The aim of reviving the prize is to underscore the importance of Merino wool to the fashion world, according to Australian Wool Innovation (AWI).

Under the former International Wool Secretariat, wool awards were awarded to designers between 1954 and 1992, and then lapsed during the years of upheaval in the wool industry.

AWI says Qiu Hao has consistently supplied “razor sharp tailoring and smooth deconstruction in a largely monochromatic colour palette.”

Qiu Hao made his catwalk debut in 2006.

US Vogue Fashion News Feature Director Sally Singer, global fashion expert and 2008 awards judge, said 2008 has been a wonderful time to relaunch The Woolmark Prize.

The list of finalists was exceptional.

Entries reflected the innovation and rigor that a new generation of designers is investing in their work.

“Artisanal work in fashion is always going to be synonymous with knitwear and it’s the time to buy luxurious things that are made and designed with care,” she said.

The relaunch of the prize is part of an overall campaign to boost and reposition Woolmark and Merino wool in the fashion trade and retail sector.

AWI has pledged to spend more than $120 million over the next three years on boosting the Merino fibre through Woolmark.