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NAFA Wild Fur Update November 22 2016
11-29-2016, 08:36 PM
Post: #1
NAFA Wild Fur Update November 22 2016
Wild Fur Update –
Trend of Cautious Optimism Continues
November 22, 2016 Winter has arrived in Northeast China. Temperatures for the last 10 days have been favourable to the retailers. Most are reporting increased sales over the same period last year. The NAFA team of Rob Cahill, Lumin Yao and Diane Benedetti, who has just directed a large fashion show in Harbin, are all more positive about this upcoming season as compared to a month ago. More important is a bigger differentiation in the price between a standard mink garment of regular quality and a high end garment of better quality. The difference between them today is most likely the highest we have seen in the last 10 years. This is important to our wild fur because it tells us that the consumer is looking for and willing to pay for new and better styled garments. This will help our sable/marten, fisher and lynx cat as more and more retailers are looking to have more diversity in their collections. If this continues, it will be a very positive, important breakthrough for wild fur.
In North America and Europe, the retail of coyote-trimmed down jackets is just starting. The weather is finally turning colder and we are getting closer to the Christmas holidays. Leading manufacturers in this important segment are more optimistic than they were a year ago and are praying for the weather to cooperate.
Increased wholesale and retail activity in Russia over the last 3 to 4 weeks has resulted in a much more optimistic outlook for the Russian retailer. Garments are inexpensive and this has resulted in increased retail activity. For the manufacturers and retailers, just selling at lower margins and creating turnover is very important. Russia is doing a lot more business compared to a year ago and for us as producers, regardless of the price of the garment, the most important thing is they are selling and cleaning up existing inventories. A commercial, ranch raised mink jacket sells for $500 U.S., making it very difficult for the raccoon jacket to compete, but once inventories are cleaned out and people have to re-purchase at the new prices, it should create new opportunities.
Overall, compared to what we wrote to you on October 21st, where we said the market was showing cautious optimism, we are happy to report that this trend is continuing. We are very proud that together with the Wild Fur Shippers Council we are able to continue to infuse large amounts of capital into wild fur promotion. The best way to secure the future of wild fur is through hard work, workshops and promotions. When the going gets tough, the tough get going. We are fully committed to wild fur, not just for today, but for many years to come. Only with your support is this possible.
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