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Thai crocs feel bite as financial woes dull taste for luxury goods

SAMUT PRAKAN, October 29, 2008 (AFP) - At the Elite Thai Leather factory in Bangkok, craftsman contort tough Thai crocodile hides into any style of luxury handbag a fashion designer wants.
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Bright blue handbags made from the dyed rough hide with the intact crocodile head transformed into a clasp are a huge hit in Asia, while Europeans prefer their accessories made from the smoother skin from the reptile's belly.

Luckily for all but the reptile itself, the ridge-headed, smooth-bellied Siamese crocodile meets both those needs and has helped send the Thai reptile hide industry rocketing.

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But despite its many qualities, even the tough-skinned Thai croc is not immune to the global financial slowdown, which has seen stock markets around the world plummet as consumers tighten their purse strings.



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Last year, Elite Thai Leather earned about 10 million baht (293,000 dollars) selling exotic leather products, said president Panotkorn Usaiphan.

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Until late summer, the company's plans to earn the same this year seemed on target, he said, with orders between

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