Traditional markets are showing a renewed interest in fur as designers and consumers alike continue to reignite their love affair with this truly luxury commodity.
London, United Kingdom (PRWEB UK) 20 May 2013
The International Fur Trade Federation (IFTF) has released global retail fur sales figures for 2011/12 totalling $15.6 billion US, a more than half billion dollar increase on last year’s figures.
In 2001/2002 the industry was worth $10.9 billion US, showing a 44 per cent increase in value over the last ten years.
Growth is being driven in large part by further demand for fur products in Asian markets, up around 5 percent from last year, totalling $5.6 billion US. Sales have more than tripled in the region over the last ten years and now narrowly outstrip European demand.
Fur skins are also trading at record prices at auction and this is reflected in global fur sales figures.
In order of size this year’s figures break down as follows:
· Asian sales are $5.6 billion US – just over 35 percent of the global total
· European fur sales are $4.4 billion US - 28 percent of the global total
· Eurasian sales (Russia, Turkey, Ukraine and Kazakhstan) are $4.3 billion US - 27.5 percent of the global total
· Americas sales (North and South) are $1.2 billion US – just over 7 percent of the global total
More than 400 designers worldwide are now using fur on the catwalks of London, Paris, New York and Milan and fur has put in a strong showing at the latest shows.
New technologies and manufacturing techniques mean that fur is increasingly being used in spring/summer collections as well traditional autumn/winter ones. The versatile nature of the product and the trend to mix it with fabric and materials such as leather, leading to a lighter texture is broadening its use.
Mark Oaten, IFTF CEO comments: “Traditional markets are showing a renewed interest in fur as designers and consumers alike continue to reignite their love affair with this truly luxury commodity. Coupled with this we are seeing continued strong growth in newer markets in Asia where increasing numbers of affluent consumers are flexing their spending power.
“What’s also really powerful is that these figures simply represent global retail sales. Our new working relationship with PwC means that later in the year we will be able to release a value for the entire global industry covering every part of the fur supply chain from manufacture, dressing and dyeing to design and more.”
He concludes: “It is increasingly difficult for the international business community to ignore an industry that contributes on such a significant scale to the global economy. Despite a sluggish economic backdrop we are confident that fur sales will continue to buck the trend and I predict further growth in future years.”
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About The International Fur Trade Federation (http://www.wearefur.com)
The International Fur Trade Federation (IFTF) is the voice of the fur trade. Its CEO is former Member of Parliament and Member of the Council of Europe, Mark Oaten.
Formed over 60 years ago, the IFTF protects the fur trade’s interests, promotes innovation and high standards and presents a factual image of the fur industry.
The IFTF represents 44 national fur trade associations and organisations from 36 countries. Members are drawn from the entire fur supply chain: farmers, trappers, auction houses, merchants, brokers, buyers, dressers and dyers, designers, manufacturers, wholesalers, marketing organisations and retailers. In addition to the national member associations' offices, there is the IFTF HQ in London and subsidiary offices in Beijing and Brussels.
The IFTF promotes strict codes of practice that meet or exceed established and accepted standards for animal welfare, for wild and farmed fur. The IFTF supports and encourages the introduction of animal welfare legislation that is based on sound scientific research and other practical considerations, around the world.