Iran: local leather producers benefit from sanctions
04/12/2012
These factors have combined to make it difficult for Iran to import manufactured goods and local manufacturers serving the domestic market are benefiting.
One example is Dorsa Leather Industry Company, which the Financial Times has described as Iran’s most successful luxury brand. Its managing director, Shahin Fatemi, told the newspaper recently that its sales levels had stayed high, in spite of the country’s economic challenges, and that he was confident of a big boost once existing inventories of imported luxury goods have been sold. Shops will need to re-stock with locally sourced inventory.
At the same time, he told the Financial Times that demand for his products in export markets is getting stronger all the time, thanks to the low value of the rial.
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