• Global fur trade now worth $15billion US ($4.5bn EU, $10.6 non EU)
• Asia continues to drive growth with the Chinese market now accounting for a quarter of total fur sales
• Sales in traditional markets buck economic downturn
• Pelts reaching record prices at auction
• Fur features heavily in new Autumn/Winter collections
The International Fur Trade Federation has today released the global fur sales figures for 2010/2011 and they reveal a strong growth of over 7% (year-on-year) despite the economic downturn, reflecting a general trend in the luxury goods sector. In the longer term, turnover has increased by 70% since 2000/1. The Asian markets of China, Hong Kong and Korea are showing particularly significant gains whilst in Europe and North America, turnover increased as pelt prices at auction reached record highs. US turnover has bounced back to pre-recession levels of just under $US 1billion.
Fur continues to be a major design story on the catwalks of New York, Milan and London as designers such as Marc Jacobs, Mulberry and Gucci lead the return to wearable, luxury fashion. Retail sales across Europe remain buoyant.
“In the current economic climate these figures are stunning”, said Mark Oaten Chief Executive of the International Fur Trade Federation. “They show designers and consumers are continuing their love affair with this beautiful, durable and natural product. I am confident we will see even stronger growth next year because prices at the most recent auctions are hitting record highs. This proves manufacturers are prepared to pay a premium for quality as consumers invest in luxury for the long term.”