The global fur trade industry is in a state of flux following the recent culling of 17 million mink in Denmark due to COVID-19 outbreaks. As a result, prices for mink pelts have surged, leading fashion houses to explore alternative options such as fox and chinchilla furs.
Denmark, previously a top exporter of mink pelts, is now facing a shortage that has caused prices to rise by up to 30% in Asia, according to the International Fur Federation. In response, Finnish auction house Saga Furs is gearing up to hold an international sale, offering over one million mink and 250,000 fox pelts to buyers from around the world.
Saga Furs CEO Magnus Ljung is hopeful about the future of the market, citing increased demand for fox fur as buyers seek alternatives to mink. Luxury brands like Louis Vuitton, Dior, and Fendi are also adapting by ensuring they source only certified fur from reputable sellers.
Despite the challenges, Kopenhagen Fur remains optimistic about its future, with potential interest from Chinese customers to take over the brand. The industry anticipates mink prices to increase by up to 50% in the coming years, prompting efforts to expand production in other countries like Canada, Poland, America, and Greece.
Overall, there is a shifting dynamic in the fur industry as consumer preferences evolve, leading to increased interest in alternative fur types like fox and chinchilla. This trend signals a potential transformation in both consumer choices and industry practices.
For more information on the global fur trade industry, you can visit the International Fur Federation’s website here. Additionally, to learn more about the latest trends and developments in the fashion industry, you can check out the Business of Fashion website here.
