The fur and leather industries have entered a recovery cycle
Huang Yanjie, Deputy Secretary-General of the China Leather Industry Association, stated at the National Fur and Leather Apparel Industry Joint Conference recently that the fur and leather industries have entered a recovery cycle with a clear upward trend, though market consumption will fall short of expectations in the short term.
The fur and leather markets have undergone rapid transformations in recent years, especially against the backdrop of the growing prominence of green and environmental protection concepts, which have introduced numerous uncertainties into the future fur and leather markets. Huang Yanjie said that after a five-year period of inventory digestion, the industry has begun to enter a recovery cycle, with a clear upward trend in the medium to long term. However, affected by factors such as global economic weakness, short-term market consumption in the industry will fall short of expectations. He emphasized that developing new quality productive forces is the fundamental way for the industry to achieve sustainable development. The industry should use the thinking of the new era to transform and upgrade itself, creating more advanced productive forces.
According to the “Sales Analysis Report on Fur Apparel for 2023 and the First Quarter of 2024,” from January to December 2023, the sales volume of women’s fur apparel on 14 platforms including Taobao, Tmall, JD.com, and Kuaishou was 12.5848 million pieces, a year-on-year decrease of 19.91%. The sales revenue was 10.845 billion yuan, a year-on-year decrease of 15.54%. The average transaction price was 861.79 yuan, a year-on-year increase of 5.46%. The median price was 909.47 yuan, a year-on-year increase of 7.01%.
The China Leather Industry Association stated that standing at a new stage of development, China’s fur and leather industries are actively benchmarking against international cutting-edge technological levels and embracing the development trends of automation, informatization, digitization, and intelligence. They are reshaping and enhancing their competitiveness with innovative thinking in the new era and accelerating the cultivation and development of new quality productive forces.
