(via International Fur Federation – www.wearefur.com )
WORLD-wide sales of fur coats, garments and accessories are booming, new figures reveal.
A report on the state of the international fur trade shows strong trends in both fur production and retail sales with further growth forecast.
The wide-ranging report by Henning Otte Hansen a senior advisor at the University of Copenhagen identifies strong trends in North America, Europe, Russia and China.
It values global retail sales at around $30billion USD.
This valuation includes all types of fur products including coats, bags, shoes, accessories and other items.
The report also shows the annual import value of clothing, accessories and other articles of fur skin to the USA at around $150m USD.
The figures clearly show that fur continues to be a strong player in the country’s competitive consumer markets.
Wild fur produced in the USA is estimated at just over $52m USD.
China also continues to play a formidable role in the global fur trade.
Chinese fur retail in 2015 amounted to $16.9bn USD, and the country is by far the biggest manufacturer and exporter of fur garments.
Fur is likely to continue to enjoy success in China, says the report, which highlights recent growth in the country’s luxury retail sector.
This is due to improved consumer confidence, price adjustments and government efforts to stimulate more consumption at home.
Russia continues to be the world’s largest importer of fur garments.
There has been a steady increase in exports to the country since 2008, generating 2-2.5 billion US$ per year, despite trade restrictions and economic difficulties.
Russia also produced around 2.3 million farmed fur skins in 2016, and in 2015 Russia was the largest export market of fur garments from China, Greece, Turkey and Italy.
Despite a slight dip in fur retail turnover in Russia last year, the report expects an upward adjustment.
In Europe the net import of raw fur skin to the UK has increased considerably over recent years to almost $200 million USD due to increased demand from designers. There has been a more than threefold increase in the value of fur being sold at retail based on the manufacturing and import data, sure signs that fur fashion is booming.
The figures demonstrate the strength of fur retail world-wide.
However, they don’t include other fur products that incorporate fur, but aren’t wholly made from it, because they are more difficult to quantify, suggesting the picture is even brighter.
Mark Oaten, IFF CEO – “With a retail value of 30 Billion USD, it’s clear that fur remains popular with consumers and designers. Despite some difficult economic situations and trade restrictions in Russia and China, fur is a strong and robust luxury product that continues to develop new techniques and trends.”
*most recent figures available for production are 2016 and for retail are 2015
See full study below: