Fur sales surge on increased Chinese demand

UK: Fur sales surge on increased Chinese demand

By Katie Smith | 20 November 2012

Global fur sales are soaring to record levels thanks to increased demand in China and South Korea.

The global fur trade was worth US$15bn last year, compared to $1.9bn in 2000, according to the International Fur Trade Federation (IFTF). This is being driven by growing demand in Asia, with Chinese imports jumping 250% in less than a decade.

The country spent $600m on North American and European fur, while sales in Russia are reaching almost $3bn a year. The value of the Chinese fur market has risen to $5.3bn as a result.

In addition, traditional markets have reported growth despite the economic recession. The fur market in Europe, Eurasia and the Americas have reached $4.6bn, $3.5bn and $1.2bn respectively.

The UK has seen strong demand for fur, while sales are also increasing in North, America, Italy, France.

Sectors: Apparel, Fibres & fabrics, Manufacturing, Retail