U.S. Fur Sales Climb Again in 2003 for Record Sales of $1.8 Billion

See also: IFTF Releases Latest Fur Sales Figures; Worldwide Trade Continues to Rise. International Fur Trade Federation press release, Feb. 25, 2004. Prices Rebound Strongly for US Mink Farmers, Production Slips. FCUSA analysis of latest USDA data, July 21, 2004.

LOS ANGELES: Sales of fur and fur-trimmed apparel and accessories across the U.S. surged ahead again for the fall 2003/winter 2004 season climbing 7.5% from year ago sales to a record level of $1.8 billion. A broader array of product offerings and strong editorial support fueled consumer demand and increases in average prices on better selling furs also helped boost sales volume.

"At the most recent runway shows in New York, Paris and Milan it was clear that fur has become a fashion requirement," noted Keith Kaplan, executive director of the Fur Information Council of America. "Whether as a coat, a collar, a bag or a muff, fur has been incorporated into the collections of over 400 top designers with a surge of creativity and innovation unmatched in the history of fur. The result has been more product of more interest to a broader audience of men and women." The demographic profile of the customer bears witness to the fashion impact of fur as once again for 2003/2004 retailers reported that the average age of the fur buyer continues to decline with 55.3% of today's fur customer under the age of 44.

Among the various fur types mink continues to dominate, accounting for nearly 61% of total sales. Sheared mink and knitted furs were the strongest growth products with shearlings also continuing to post gains. Retailers further noted that the top factors influencing sales were fashion and weather.

The independent study of fur retailers has been conducted annually by Southwick Associates since 1991. "In order to provide consistent, comparable data from year to year the survey panel only includes more traditional fur retailers. Given fur's expanded distribution at specialty retailers as well as throughout various departments within large department stores, these results most likely underestimate the true growth in fur sales," suggests Rob Southwick, president of the research firm that bears his name. Supporting this theory is a recent survey conducted by Women's Wear Daily among 200 high-end specialty stores across the country indicating that 74% of these stores already carry fur or fur products in-store and more (79% of the remaining stores) plan to add fur to their merchandise mix over the next 12 months.

See also:

US Fur Sales Surge Ahead in 2002 for Sales of $1.7 Billion, FICA press release, September 2003.

Fur Retail Sales Remain Strong in Unstable Economy, FICA press release, May 20, 2002.

For more information on North American fur fashion, design, manufacturing and retail, visit the Fur Council.

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