Thousands of fur companies have gone bankrupt.

A few winters ago, you’d often see people wearing fur coats on the streets, and the styles were pretty much the same—perhaps the only difference was the color. If someone was particularly concerned about avoiding duplicates, it could get awkward. Even so, most people still had at least one fur piece in their wardrobe.

Winter is quite cold, so people typically don the warmth of cotton-padded jackets or down coats. Yet for fashion‑savvy women, these outerwear options can feel rather plain and bulky. Since fur made its debut, many have come to adore it—both for its cozy warmth and its chic appeal—leading to a proliferation of fur boutiques in cities everywhere.

In fact, fur didn’t become popular right away. The reason it seemed so trendy was that people first saw it on television, and over time, it gradually caught on in real life. I’m sure many of you know someone who owns a fur piece—indeed, in the eyes of some, not owning even one fur item can make you seem out of touch.

In fact, fur is extremely expensive—especially high-end pieces. Even the more affordable options can easily cost tens of thousands, while the pricier ones may run into the hundreds of thousands. Despite these steep prices, people’s enthusiasm for fur has yet to wane. We can see that fur was once wildly popular, but nowadays it seems fewer and fewer people are wearing it.

When fur was selling exceptionally well, many retailers rushed to stock up, and consumer demand remained extremely strong. As a result, unless they ordered more inventory, they simply couldn’t keep up with the demand—there was no worry about unsold stock. Moreover, fur profits were once very substantial. Yet today, most fur shops are experiencing sluggish business.

Once, a business owner who had been in the fur industry for decades remarked that business has been exceptionally poor in recent years. To cut their losses promptly, many shopkeepers have begun slashing prices on their products. Once‑popular fur coats that used to retail for twenty or thirty thousand yuan are now being sold at steep discounts—often for just eight or nine thousand. Yet even at these rock‑bottom prices, demand remains sluggish.

Reasons why fur is not selling well

In the past, many people regarded fur as a luxury item, but today it no longer seems quite as valuable. After all, fewer and fewer people are buying it, and the market for fur has dried up—no matter how low the price, sales remain sluggish.

According to reports, from the beginning of 2019 through September of that year, more than a thousand fur‑related businesses in China went out of business. Once hailed as “soft gold,” the fur industry now finds itself in a dire situation. With over a thousand fur enterprises closing down and the once‑coveted “soft gold” falling out of favor, what exactly has gone wrong?

In fact, it’s not just fur‑related businesses that are seeing their fortunes dwindle—fur‑animal farms are also feeling the pinch, with many farm owners already switching to other lines of work. Meanwhile, some fur wholesalers, who used to stock up heavily when the fur market was strong, now find themselves stuck with large inventories. With sales sluggish and prices failing to rise, their goods continue to pile up. To recoup their capital, they’re left with no choice but to slash prices and sell off their furs.

At present, fur is no longer popular, which has led to a supply‑excess situation in the industry and triggered a sharp drop in prices. Indeed, the outlook for the fur sector is very bleak. So the question arises: why are consumers turning away from fur?

In the past, the fur‑wear business was booming—partly driven by herd mentality. But once people made the purchase, they found that while fur is undeniably warm, it’s rather ostentatious and not particularly practical, especially when it comes to everyday care. To avoid any hassle, even those who did buy fur would simply tuck it away in their wardrobe.

Moreover, China places great emphasis on wildlife conservation. Many people are increasingly aware of the importance of protecting animals, and as a result, fewer individuals purchase fur products. As one person once observed, fashion is like the wind—quick to arrive and just as quick to pass—and that certainly holds true; today’s society is changing at an astonishing pace.