Favior-Vidra Orastie in decline

The increase in demand for synthetic furs on the European market, combined with the depreciation of the US dollar, has hurt the business of Favior-Vidra Orastie, one of the leading domestic producers of natural fur articles. The company made a 2.3 million euro turnover last year, 40% less than the year before. “The sudden decline of the dollar affected our worldwide exports dramatically. Our customers in Italy were exporting products to the US, and with the depreciation of the dollar the value of their exports went down,” Nicolae Stanciu, general manager of Favior, told ZF Transilvania. He added that another factor behind this development was the change in fashion in Europe, which moved in the direction of products made from synthetic materials. To be prepared for such a situation this year, Favior has shifted its attention to other foreign markets and has already made partnership offers to companies in Canada and Ukraine. For 2005 they expect a 2.6 million euro turnover and exports in excess of 1.3 million euros. ZF