Ms Gattung told an audience of about 150 people the potential return from the industry was enormous, but achieving it would take the belief and commitment of all New Zealanders.
Wool prices had steadily declined for the past 20 years and the strong wool position was overshadowed by the synthetic fibre market and consumer ignorance about how wool is produced.
One of Ms Gattung's goals was to re-educate the urban and rural populations about wool and re-link them, she said.
"One of the biggest things we combat is apathy.
There is no evidence you can be a world champion of something you don't believe in."
When asked about a timeframe for getting better prices for growers, Ms Gattung said it would take three to five years to turn the industry around.
"My plea is: don't give up now - give it a chance.
"If farmers were one co-op, they could go to the Government and demand the release of some capital.
That's the first thing."
Ms Gattung said every time producers sold their wool to a private merchant, they were selling their product "down the market".
Individual growers might get half a cent more, and might get it three weeks faster, but this came at the expense of building a brand image which would benefit the entire industry.
An ideal business would see the co-op own the brand, with growers paying marketing fees towards its promotion.
"The two decades of decline can be recovered from, but it won't happen between breakfast and morning tea," she said.
