Greek Fur Center S.A.

China's currency control of concern to US fur retailers

Monday, 17 October 2011

THE SIMMERING ISSUE OF CHINA'S CONTROL OVER ITS CURRENCY came to a boil again last week as the U.S. Senate revived efforts to punish Beijing for keeping its yuan/renminbi artificially depressed. A bill stricter than that which passed the House last year, but then tabled, would require the Treasury Dept. to use a lower standard for determining if China's currency was misaligned, prompting retaliatory duties on Chinese imports.

Considering that fur sales in the U.S. now consist mostly of imports - and China accounts for more than half of those imports - punitive tariffs could have a serious effect on the American market. Garment prices have risen sharply over the past two years because of soaring skin prices, causing retailers to cut back on the number of units they buy and/or shift toward lower-priced items in anticipation of customer resistance to higher prices. A substantial duty rise is viewed as further exacerbating that problem.

http://www.furcommission.com/news/SP91v.htm

International Fur Trade Federation 62nd Annual General Meeting

Monday, 17 October 2011
Following important changes agreed at the Annual General Meeting [AGM] last year, the International Fur Trade Federation [IFTF] is pleased to announce the new Board and new Chairman for the two-year period 2011-2013. This year's AGM, held in Helsinki, Finland on Wednesday 21 September 2011 noted the election of the IFTF Board under a new regional structure. For the two-year period 2011-2013, the Board now comprises of seven elected members - Betty Balaila and Allen Soifer (North America); Steven Hurwitz and Roberto Scarpella (Europe); Mike He and Thomas Wong (Asia); and Ekaterina Akhuzina (Russia) - plus seven nominated members - Joe Morelli (American Legend Cooperative); Pertti Fallenius (Finnish Fur Sales/SAGA Furs); Torben Nielsen (Kopenhagen Fur); Michael Mengar (North American Fur Auctions); Tage Pedersen (Danish Fur Breeders' Association); Ulf Enroth (Finnish Fur Breeders' Association); and Bruce Williams (for North American fur producer associations).
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LE CUIR A PARIS Continues to Progress

Monday, 17 October 2011
The 21st edition of LE CUIR A PARIS took place between September, 20 -22, 2011 and showed very positive results of 10 years at the service of professionals from the leather industry. More than ever, the show is becoming one of the most important events by international buyers, exhibitors and visitors from around the world. The figures, which have never been better, speak for themselves: there was 353 exhibitors, 30 of which are new and 15 returning, showed their winter 12/13 collections. This is an increase of +7% in exhibitor numbers and +18% in exhibition area compared to last years. For Mme Béatrice Rousseau, the Commissioner-General of the show, "the increase in surface area covered by the exhibitors demonstrates that they are investing in LE CUIR A PARIS as it is a sure thing in an uncertain economic climate."
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