The 28 March issue of The Economist magazine revealed the value of the global fur trade, as reported from an independent study by PwC Italy in 2012-13. The result was that the global fur trade is valued at more than $40bn – roughly the same as the Wi-Fi industry.
The research is the first to analyse the highly fragmented fur sector, looking beyond retail sales at the immense worldwide economic value of fur farming and production – which have historically been very difficult to measure. It revealed that global fur retail sales are estimated at $35.8bn, farming is valued at $7.8bn and total employment in the sector at over one million.
Mark Oaten, CEO of IFF, commented: “This study demonstrates the unquestionable value the fur trade brings to the global economy. It’s easy to get caught up in the emotions the business can generate, but the truth is that the fur trade is an economic cornerstone in Europe and beyond. Much of the fashion and increasingly the soft furnishings world relies on fur – and will continue to do so for the foreseeable future.”
The figure released is much higher than reported in the past and is generating a lot of media attention worldwide.
- See more at: http://www.wearefur.com/latest/news/new-global-figures-revealed#sthash.r2ZSzwm9.dpuf
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