Crisis takes toll on fur fairs

SANDY PARKER REPORT, VOL. 33, ISSUE 5, MARCH 16, 2009
The following extract is reproduced with permission from Sandy Parker Reports, Weekly International Fur News. Sandy Parker has been covering the fur industry for more than four decades. For most of that time he has published a weekly newsletter, detailing results of international pelt auctions, wholesale price trends, business developments and movements in the trade, as well as economic and political activities that may impact on it.

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International Fur News
with Sandy Parker

Crisis takes toll on fur fairs

MORE THAN HALFWAY THROUGH THE INTERNATIONAL FAIRS finds fur retailers from the leading markets preparing more optimistically for the year ahead than had been expected under the circumstances. To be sure, the ailing economies around the world have been impacting on business at the wholesale level as stores curb their appetites in anticipation of difficult selling next fall. At the same time, however, retailers who intend to remain in business are aware of the old maxim that they can’t do business from an empty wagon and, although they’re carrying over goods from this season, they still need some fresh merchandise.

Thus, the attendance and orders at Mifur – like those at the Hong Kong fair that preceded it – were down, but the event was by no means the disaster that some had feared. Like Hong Kong, it drew fewer Russians who have been their biggest buyers in recent years. Also fewer Turks, Americans and other Eastern Europeans. But the attendance drop was offset by crossover traffic from the shoe and leather fairs as well as Fur & Fashion Frankfurt, all of whom merged with Mifur in a new venue this year. That move, taken a year ago – well before any indication of the economic turmoil that was to develop – proved serendipitous in view of the current financial situation. According to the fair organizers, Mifur benefitted from the synergy, as did the Frankfurt and other events.

The fair clocked a total of 7,627 first-entry visitors, a decline of 9% from last year. This included 4,437 Italians and 3,190 foreign buyers. Although there were 3.5% more Italians than last year, the foreign total dropped 21.5%. This mostly reflected a 50% drop in the number of Russians, while the numbers from former Soviet Union countries such as Belarus and Kazakhstan held up relatively well.

IN THIS ISSUE:
Crisis Takes Toll on Fairs
Attendance, Sales Decline…
…but Better than Expected
Russian Absence Is Felt
Wild Fur Prices Mostly Firm

For extracts from back issues of Sandy Parker Reports see News Archive. Subscribers can access an archive of complete issues at www.sandyparker.com.