Warming fashion
Hong Kong Fur Fair 2017 hints at industry recovery
Rich colors like yellow and even the more popular camo, integration with materials like down jackets or woolen sweaters and even adding floral embodiments… these elements made the world of fur appealing to buyers and customers at the recent Hong Kong fur fair, which reminded buyers that fur cannot only keep you warm, but make you look fashionable.
One of the largest fur fairs in the world, the Hong Kong International Fur and Fashion Fair 2017, which ran from February 16 to 18, attracted more than 210 exhibitors from 13 countries and regions.
Different from other fairs, the Hong Kong fur fair is open to buyers from around the world orld and presents the latest collections,s, accessories and raw fur materials.
Splendid designssigns
Each year, the fair hosts a gala on the night of openinging day. This year was no exception. Thee gala, taking the theme An Evening of f Moments, featured collections from 15 local fur brands.
Brand SK opened the gala show with a women’s n’s wear collection featuring dresses, fur ur cloaks and shawls. Models for Chevite Furs walked the runway wearing earing black mink or zibeline coats decorated with shining crystal necklacesces or pearl brooches that were a perfecterfect match for the background music “Diamonds Are Forever,” the theme song for the James Bond nd film of the same name.
The latest collection from O’Merinos was as centered on floral patterns on light-colored ght-colored coats as well as the bold ld use of rich colors. Inspired by Italian alian opera Turandot, Michelle Fur recreated the glory and prosperity y of a great dynasty through dresses ses and coats in white and blue e as well as the wide use of colored d paint and embroidery.
According to Nora Tse – former honorary ary chairman of the Hong Kong ng Fur Federation, the organization ion behind the fur fair – the wide e use of mixed materials, including luding cashmere and leather in n fur garments, has become a popular trend in recent years. This not only can help produce new designs, but also widen use of colors and patterns. People can wear these light-weight furs produced with mixed materials in places that do not get that cold. This has made them well-received in Asian markets such as Japan and the Chinese mainland.
Increasing buyers from Russia
With buyers crowding his booth, Henry Lam – the young CEO of Season Trading Company, which owns the brand O’Merinos – is very optimistic about the state of the fur business.
“We have had many Russian buyers, double the number from 2014 and 2015, which were difficult times,” he told the Global Times on February 17, the second day of the fair.
He recalled that since 1997, Russian buyers have dominated the Hong Kong fur market.
“We have been constantly working with Italian designers, whose designs are a favorite among Russian buyers. High quality and reputation are key factors for our Russian buyers.”
However, due to negative factors such as the US election, a poor Russian economy, the depreciation of the ruble and falling oil prices, the year of 2016 was a very bad time for the Hong Kong fur business, in which Russians used to make up about 60 percent of buyers, said Henry Sun, chairman of the Hong Kong Fur Federation.
Federation data for this year’s shows that the market experienced a strong recovery during the fair with $139 million in confirmed orders, a 20 percent increase from last year, as well as 4,200 buyers from over 30 countries and regions visiting the three-day fair.
Sun attributed the recovery to a stronger ruble and higher oil prices after the US presidential election.
“When oil prices rise, Russians benefit from it and they can place orders for furs. Last year’s cold weather in the US, Europe and Japan also helped to clear local inventories. So buyers need to replenish stock at this fair,” he told the Global Times.
However, buyers are still cautious since the future of the world economy is still not very clear.
“Buyers have tended to buy more varieties of fur but at lower volume,” Sun noted.
Steady mainland market
Both Sun and Lam showed great interest in the mainland market, which is now very stable.
“Unlike Russians, who see furs as a necessity due to the cold weather in their country, mainland customers still see furs as luxury products. They, mainly in their 30s and much younger than the 40-50-year-old Russians, prefer fashionable and young designs instead of traditional styles,” said Lam.
“The mainland market is so large and has diverse needs, which can be an advantage for Hong Kong fur manufacturers who have always been strong in design. With such a big market, the Hong Kong fur fair aims to grow into the No.1 fur fair in Asia, attracting more and more buyers from the mainland, South Korea and Japan,” Sun told the Global Times.