Fur flies as auction house sheds employees – The Post

Fur flies as auction house sheds employees

Demand for fur is falling along with the price of mink skins

Fewer people are interested in the real thing when it comes to buying a mink coat (photo: Vadeve)
April 30th, 2019 4:56 pm| by Stephen Gadd

Kopenhagen Fur, the world’s largest fur auction house, is having to cut its (fur) coat according to its cloth as between 130 and 150 employees – every fourth worker – can expect to be made redundant before the summer.

The company is owned and managed by the Danish Fur Breeders Association, a co-operative founded in 1930.

The slimming-down measures are being taken in response to an expected reduction in the number of skins required both this year and next, reports Landbrugsavisen

Still the world’s largest
Back in 2018, 45 employees lost their jobs and this contributed to the company making a profit from then on, but there are still too many skins being produced compared to the demand.

READ ALSO: Fur disappearing from Danish shops, but main distributor remains unconcerned

“For some time a global reduction of around 30 percent has been expected in mink production this year, and so of course there will be markedly fewer skins for sale and handling at the auction house in 2020,” said Kopenhagen Fur’s administrative director Jesper Lauge Christensen in a press release.

Despite the cuts, Christensen asserts the company will remain the world’s biggest because the quality of Danish mink is very high and Denmark has a market share of around 40 percent worldwide.