Fur companies in Greece have been affected by EU sanctions against Russia, as they can no longer sell fur coats to Russian tourists, who are their main buyers.
So, in Kastoria, Greece, shops are already starting to close, he writes. BOF.
Since the mid-1990s, the business model of businesses has been geared towards wealthy Russian tourists. Due to the sanctions, stores were forbidden to sell fur products to Russians, as it is now a luxury item. However, the Greek Fur Federation says it is difficult to enter new markets at the moment.
“We’re going where they want us to go. We can’t just find a new market, there have to be certain conditions. “No matter how much aid they get from the state, it’s only a matter of time before businesses shut down,” said Federation president Apostolos Tsoukas.
Today in Greece there are about 2 thousand enterprises for the production of fur products. As a rule, this is a family business that employs about 4 thousand people throughout the country. The state supported manufacturers, which allowed them to avoid large-scale layoffs. This measure, which is in effect until September, allows companies to suspend the contracts of 80% of their employees. They will receive state aid.
Fur products were among the top ten export products of Greece.
Formerly socialbites.ca reportedHe said H&M is planning a final sale for August.