• Home
  • News
  • Retail
  • World's largest fur auction house to shut down

World's largest fur auction house to shut down

By Kristopher Fraser

loading...

Scroll down to read more

Retail

Kopenhagen Fur, the world’s largest fur trader, will be phasing out operations by 2023. The news was reported by WWD.

The decision to shutdown business comes as Denmark must cull the country’s mink population due to mutation of the coronavirus passing from minks to humans. In the short term, it will still be business as usual. Kopenhagen Fur is set to receive six million Danish skins from fur farms within the coming weeks. They will be sold at auctions in 2021.

Kopenhagen Fur plans to downsize after the operations earlier in the year and will work on slowly shutting down. The loss of mink production has cost Kopenhagen Fur its ownership base. 300 jobs are expected to be lost as a result of the shutdown. Earlier this year, Kopenhagen Fur shut down its younger brand, Oh by Kopenhagen Fur.

Now, the Danish government’s move to cull the mink population could potentially even be reversed. They recently cited no legal authority to mandate the killing of mink on farms unaffected by coronavirus. They also said the mass culling was a recommendation and not a directive.

photo: kopenhagenfur.com

Kopenhagen Fur