A vast reduction in demand both locally and globally is leading to a slump in the Chinese fur industry.
Online news source Global Times reported that mink coats in mainland China used to sell for up to 30,000 yuan (approximately $6,000 CAD) are now selling for 10,000 yuan (approximately $2,000 CAD) – a drastic 66 per cent drop.
China has recently been the largest producer and consumer of fur products worldwide. But now it appears that entire fur industry is collapsing in the far East.
“Fur manufacturers and dealers are tightening their belts in the city of Jiaxing, East China's Zhejiang Province, the capital of the nation's leather and fur industry,” the Global Times reported.
This kind of loss is similar to what has been seen in European and Canadian auction houses, as the temporary spike in fur prices resulted in overinvestment by businesses and governments. It is also symptomatic of a world that is seeing the truth about fur and choosing truly sustainable, humane choices as alternatives.
We’re getting closer every day to a compassionate world – and we know it's no small part becauseyou, too, want to #MakeFurHistory.