Chinese Mink Fur Garment Market Report (Recent Weeks and Projections)
Current Sales Situation:
The Chinese mink fur garment market has shown mixed performance in recent weeks, with regional and channel-specific variations. Sales in key production hubs such as Hebei (notably Huasi), Shandong Zhaoyuan, and Xinjiang, along with select online stores, have been moderate but remain below historical levels. Huasi, which reported profitability for most of 2023, anticipates that approximately 70% of its operations in 2024 may either break even or incur losses. This reflects a broader trend of declining profitability across the industry.
Online stores specializing in high-end mink fur garments have performed relatively well, maintaining profitability due to their focus on premium products. However, the overall market sentiment remains subdued, particularly in the Northeast region, where sales have been exceptionally weak. The higher production costs for larger-sized garments, which are more common in the Northeast, have exacerbated the challenges. Additionally, lower disposable incomes among consumers in the region, driven by declining agricultural prices, have further dampened demand.
In Haining, a significant market for mink fur garments, online sales continue to dominate, though some brick-and-mortar stores have shown resilience. Notably, certain physical stores, including those affiliated with Hebei Huasi, have leveraged platforms like Douyin to enhance their visibility and maintain decent sales volumes. Despite this, daily sales in these stores have declined compared to 2023, with peak sales reaching 40-50 garments per day, down from previous levels.
Upcoming Mink Material Price Projections:
The mink garment market is expected to face challenges in the near term, this will cause many manufacturers to delay their production schedules in 2025. This delay could create short-term lack of interest in the up and coming March Auction. However, we expect this situation will not apply for the Brown Minks since the price of the Brown Minks are relatively low and the supply of skins have significantly reduced in the last two years. As a result, mutation mink prices in the early part of the year are expected to be lower than those seen at last september auctions, while the brown mink will be higher than last September SAGA Prices.