IFTF Press Release

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For Immediate Release
21st January 2011

FUR PRICES SET TO REMAIN HIGH

As the international fur auction season gets fully underway, traders anticipate that prices will remain strong, alongside an increase in global fur production. The average price of mink has seen a 112% rise over the last 10 years to over $42 per mink*1, with top end luxury fur now selling for up to $101.

These price increases are being driven by a continuing rise in global retail demand, with over 400 internationally recognised designers, including John Galliano and Jean Paul Gautier, incorporating fur in their designs this season.

Global retail fur sales totalled more than $13 billion in 2009, an increase of over 58% compared to the end of the 1990s*2. Global mink production during 2010 is forecast to have increased by 8.5% (based on auction house predictions) and this strong performance is expected to continue in 2011.

IFTF (International Fur Trade Federation) Chairman, Andy Lenhart comments:

“Fur sales have been more than holding their own in spite of the recession. These figures reflect a rise in demand from the emerging economies of Russia and China. Here, even third tier cities contain shops and boutiques selling fur garments. We are looking forward to further growth in 2011 as designers create new and innovative ways to use fur in their catwalk collections.”

Fur auctions are held throughout the year in Denmark, Finland, USA and Russia. The fur industry employs over two million people worldwide including farmers, craftspeople, manufacturers and retailers.





Table 1:
Source: Kopenhagen Fur

Table 2:

Source: IFTF
- Ends -

NOTES TO EDITORS
About IFTF
International Fur Trade Federation is a federation of 42 national fur trade associations and organisations from 35 countries. Through its work and the activities of its members, the IFTF seeks to protect fur trade interests and to promote innovation, high standards, in addition to a positive and factual image of the fur industry internationally.



The IFTF promotes strict codes of practice that meet or exceed established and accepted standards for animal welfare for both wild and farmed fur. The IFTF supports governments in creating and implementing sound animal welfare legislation and international standards, such as the Agreement on International Humane Trapping Standards (AIHTS). The IFTF fully supports the Convention on International Trade in Endangered Species (CITES) and has been a full voting member of the World Conservation Union (IUCN) since 1985.

IFTF website: www.iftf.com

About Origin Assured (OA™):
Developed voluntarily in 2006 by the International Fur Trade Federation (IFTF) in collaboration with leading auction houses: American Legend Cooperative, Finnish Fur Sales/Saga Fur, Kopenhagen Fur and North American Fur Auctions, the Origin Assured (OA™) label gives consumers confidence about the provenance of the fur they are buying. It is an assurance that the fur comes from a country where national or local welfare regulations or standards governing fur production are in force.

OA website: www.originassured.com

If you would like additional information or images, please contact the IFTF press office.
Tel +44 [0] 20 7427 1417
E-mail: info@iftf-press.com