A crocodile farm in Pakistan. The investment has, claim the promoters, the dual goal of entering the international market for exotic leather and becoming an interesting phenomenon in the dynamics of local tourism. But the initiative, we note from the tanning perspective, comes when demand, especially from the lower segments, isn’t particularly dynamic.
Pakistani initiative
In Pakistan’s Jacobabad district, Bhambhore Farmhouse has opened a crocodile farm. The investor, who remains anonymous, has imported 10 crocodile specimens that now live in an environment quite similar to their natural habitat. The expectation is that, within five years, the crocodiles will reproduce sufficiently. “Their skins are highly sought after for luxury leather goods and we are professionally breeding them to meet international standards“, the farm owner explained to Pakistan Today. This experiment has attracted the interest of those in the leather industry, who see it as a potential turning point for high-value exports and agrotourism development.
Somewhat flat market
But the market for exotic skins is currently not having too good a time. Crocodile and alligator hides have lost nearly 20% in value over the past three years, both because luxury brands are using less exotic leather in their collections, and because stocks of lower quality hides have increased. Thus, according to Glitz.Paris, even HCP, Hermès’s company dedicated to exotic leathers, is allegedly operating at a loss (-42.3 million euro in 2023): the only legal entity in the group to do so. HCP has reportedly accumulated stocks of leather of inferior selections, which it cannot easily sell, affecting the global market.
Photo from Shutterstock
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