Global fur sales went through the roof
14 March 2012Markets
Global fur sales hit record high last season and are expected to take further steps forward this season.
According to new figures from the International Fur Trade Federation the value of the global fur sales has risen 7% and is now worth 15 billion USD. In 10 years, the turnover has increased by 70%, reflecting a general trend in the luxury goods sector.
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 1billion USD.
─ In the current economic climate these figures are stunning. 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, Mark Oaten, Chief Executive of IFTF, says.
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.