C3224 - Furs and furriers

Industry code: C3224
Premium rate: 1.05

Classification Facts

Class: C - Commodity - Wholesale - Retail
Rate Code: C32 - Grocery, Department Stores, Hardware
Subcode: 24

Description

Operational Details
The fur trade began with the Northwest Fur Company and Hudson Bay Company who explored wilderness areas of North America to purchase fur pelts from indigenous peoples and fur trappers. Over time the industry has evolved from just selling pelts and exporting them, to where they are purchased by a furrier or fur company, who in turn sells them to clothing manufacturers for the manufacturing of wearing apparel such as: fur coats, fur hat hats, fur lined boots, etc.

Fur wholesalers are also in this classification and include the purchase of pelts from trappers and fur farms. These businesses may have field representatives that travel abroad or to more remote areas to purchase furs. The furs received are graded and sold, usually in lots to clothing manufacturers or to businesses that specialize in manufacturing fur products. The manufacturer in turn sells to a retail outlet.

More recently the term furrier has come to mean one who operates a fur clothing store and only deals with fur products that have added value.

Retail fur stores and furriers sell to the general public, and in some cases, earn extra revenue by providing modest repairs. Another source is storage facilities that are climatically controlled and secured so that customers can store their expensive furs away from their residence or domicile.

SIC Codes
000000221 - Furs and furriers

Previous Codes

NAICS 2007
Code: 44819 - Other Clothing Stores