Massive decline in Saga Furs value reported

Massive decline in Saga Furs value reported

European-based Saga Furs is reporting a decline in value – an incredible 28 percent over last year, including a loss of €4.5 million (approximately $6.8 million CAD) for the company and its shareholders.

According to a translated press release, the company argues fur is still in fashion, but due to “image challenges” in the western world, a tough economy in Russia, and the brewing potential for a trade war between China and the United States, sales have fallen.

The release also notes that the Euro-based price for mink skins and fox skins have fallen 24 percent and 20 percent, respectively, from last year.

This is not a victory – millions of animals will still be killed in Canada and around the world and sold as commodities. But it is a sign that ongoing advocacy is having a clear impact on international sales – and that the spread of fur-free messaging is frightful to the industry.

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