Western buyers fewer at international fur fairs

SANDY PARKER REPORT, VOL. 32, ISSUE 7, MAR. 31, 2008
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
Western buyers fewer at international fur fairs
MIDWAY THROUGH THE INTERNATIONAL FUR FAIR SCHEDULE finds orders placed by Western countries running well behind a year ago. No surprise, since attendance at those fairs by buyers from the U.S. and other Western countries also has been down. This is largely attributable to sharp increases in the prices of both ranched and wild furs that have pushed wholesale garment prices up as much as 40% at the Hong Kong Fair. In Milan, the strong euro made purchases by Americans even more difficult. Yet, at both fairs, Russians and other Eastern European markets bought even more than last year. Chinese retailers, mostly owned or controlled by the major Hong Kong manufacturers, don’t normally place their orders until April or May and this year those orders are expected to be much bigger.
The North American Fur & Fashion Exposition in Montreal, coming up at the end of April, could very well buck that downtrend – as it did last year. NAFFEM traditionally has been supported mainly by U.S. retailers. Since they placed fewer orders in Hong Kong – and were virtually unable to buy in Milan – more are considered likely to show up in Montreal despite the advantage they lost when the Canadian dollar achieved parity with the American greenback.
GENERALLY SPEAKING, AMERICAN RETAILERS ARE SATISFIED with their clearances so far this season, many reporting their inventories are lower than at this time a year ago. Some, in fact, had mixed feelings in that respect because of the substantially higher prices being quoted to them in the new collections. Although they are eager to end a season as cleanly as possible, the prospect of having to pay increases of 30% or more for replacement merchandise doesn’t thrill them. As one Midwestern operator put it, “I may regret it later, but right now I want to sell as much as I can.”
IN THIS ISSUE:
March Decent for U.S. Stores…
…Much Better for Russians, Chinese
Weak Economy Dims U.S. Outlook
Consumer Confidence Plunges
Mink Seen Firm in Helsinki
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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