Sharply higher wholesale prices expected at NAFFEM

SANDY PARKER REPORT, VOL. 30, ISSUE 10, APR. 24, 2006
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
Sharply higher wholesale prices expected at NAFFEM
THAT RETAILERS HEADING TO THE NORTH AMERICAN FUR & FASHION EXPOSITION in Montreal will find wholesale prices significantly higher than a year ago will be no surprise, given the sharp skin price increases in the past 12 months and the wholesale prices at the recent fairs. But many of the fair’s vendors, in recognition of the disappointing retail season in the United States and in anticipation of stiffer than usual buyer resistance, have been looking for ways to minimize the price advance at the wholesale level in an effort to soften that resistance. While they face next week’s event with a slight bit of uneasiness over the price issue, in the main they are confident of matching or exceeding last year’s figures.
Not that last year’s fair could be considered a blockbuster because, while it followed a good retail season, most stores were carrying over larger-than-normal inventories due to over-optimistic planning. Then, as now, retailers were confronted with substantially higher wholesale prices and approached the new season cautiously. While overall business at last year’s NAFFEM was down from the previous year’s, those vendors who read the signals and prepared accordingly, enjoyed a good fair.
PRICES AT NAFFEM ON A COMPARABLE BASIS are expected to range at least from 10% to 30% higher in U.S. dollars than a year ago, but could be even higher by the time buyers place orders. Some vendors who ordered their samples in Hong Kong before the February auctions – when skin prices soared – are still waiting for the new price lists based on that and subsequent sales. Although mink prices have backed off a bit since February, they expect the new price lists to be higher than what they paid for their samples and the new figures are what they will be quoting at the fair.
IN THIS ISSUE:
Vendors Seek to Ease Price Bite…
…Less Costly Items at NAFFEM
Sable Prices Ease from Peaks
Portland, Ore., Retailer Sues City
Cites Failure to Uphold Laws
For extracts from back issues of Sandy Parker Reports see News Index. Subscribers can access an archive of complete issues at www.sandyparker.com.
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