Markets in Everything: Alligator Skins. NOT
The alligator farming industry is hurting because fewer overseas consumers are buying luxury items made of alligator. Alligator farming is a $60 million business in Louisiana. Vermilion Parish is one of the biggest players in the worldwide alligator market. Vermilion Gator Farms Inc., located south of Abbeville, is one of the largest alligator farms in America. The farm has not sold an alligator skin in a year and probably will not be able to sell a skin for another year.
Wayne Sagrera and his four sons own and operate Vermilion Gator Farm. After 25 years of being in the business, Wayne said this is the worst he has seen the alligator industry.“The luxury market has crashed,” Wayne said. “The market is non-existent and there are no sales. Everyone has inventory on-hand because there are no sales. I would say this is the worst that I have ever seen. There has never been a big inventory like this before.”