Russian fur retailer, Kalyaev, plans to close all its factories and sell its remaining inventory as the company is struggling with a decline in demand for fur products.
The company’s decision to shutter its business marks the end of one of the largest fur retailers in Russia. The company currently operates nearly 20 retail stores in Moscow and Kazan, offering products made by a range of brands as well as its own brand.
“Over the past two years, the world has changed tremendously. Some of [these changes] are not very pleasant for our business. Many high fashion companies began to refuse to use natural fur in their products. This has led to a wave of widespread abandonment of the cultivation and sale of raw furs around the world,” the company said in a statement.
According to Russia’s National Traceability Index, sales of fur coats in the country have continued to decline. Last year, fur trading volume was down 10 percent in the autumn season, which is typically the busiest season for fur trading. When compared to trading levels in 2019, sales were down 90 percent.
The decline in demand for fur products has fast become a trend in markets around the globe. Major retailers and brands such as Saks, Canada Goose, Kering and several others have all made commitments to phase out fur as consumers continue to choose sustainable and cruelty-free fashion.