28 March 2024

Leatherbiz Market Intelligence: APLF was a qualified success.

Our leatherbiz Market Intelligence newsletter went live with a new issue on March 26. By Leatherbiz

In the immediate aftermath of the 2024 edition of APLF, which took place from March 19-21, the newsletter says that the event’s return to its traditional home, Home Kong, for the first time since 2019, was a qualified success.

It said that, in spite of some obvious changes to life in Hong Kong since the last time the global leather industry gathered there, attendees still found it an interesting place to visit.

Our newsletter says the number of visitors was “visually appealing”, but that exhibitors who had set up stands at the even in expectation of securing orders were “not particularly satisfied” with the levels of interest.

Those who went to meet existing business contacts, make new ones and for social reasons were much more satisfied.

Market Intelligence also says that the differences between the way the leather industry is working in Asia and the current situation in Europe were also confirmed at APLF.

It says demand for, and willingness and ability to produce, leather and leather products in Asia “at certain prices” is satisfactory.

According to the report, this applies to all three major sectors that use leather in large volumes.

In footwear, it says “the retro wave”, the ongoing popularity of vintage-style athletic shoes is what is keeping demand high.

In furniture, demand is still good because prices are to the liking of sofa and armchair manufacturers. And, finally, there is good demand in automotive because of the ongoing willingness of car manufacturers in the Chinese market to equip vehicles with leather in the interior.

In contrast, the newsletter says it is difficult to imagine “any serious increase in demand in the leather business in Europe” between now and the third quarter of the year.

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