People for the Ethical Treatment of Animals recently announced that it has bought shares in around 20 businesses, including French luxury giant Kering, Burberry, Ralph Lauren, and Guess. PETA’s aim in buying up shares is “to push fashion brands to stop using wool, mohair, and cashmere, the non-governmental organisation said in a statement.
PETA , however, did not disclose the number of shares it has bought in each business nor the value of the transactions.People for the Ethical Treatment of Animals recently announced that it has bought shares in around 20 businesses, including French luxury giant Kering, Burberry, Ralph Lauren, and Guess. PETA's aim in buying up shares is “to push fashion brands to stop using wool, mohair, and cashmere, the non-governmental organisation said in a statement. #
“Becoming a shareholder will allow the association to encourage large groups and brands, from Kering to Guess, to switch to chic, eco-friendly, and ethical materials,” said Peta France’s corporate liaison head Mathilde Dorbessan.
“Consumers today want to support companies that share their values and only sell sweaters and coats which no animal has suffered to produce,” Dorbessan was quoted as saying by European media reports.
This is not the first time that PETA is doing this. After having bought shares in Prada and Hermès, PETA’s USA branch took advantage of Farfetch’s initial public offering in 2018 to invest in the luxury e-commerce business to push it to abandon fur.
The association often buys the minimum number of shares necessary to enable it to take part in fashion companies’ meetings to allow it to influence business decisions and strategies from the inside, according to PETA.
The organisation is also a shareholder in businesses including Urban Outfitters, Under Armor, Deckers Outdoor Corporation (Ugg’s parent company), and Capri Holdings, which includes brands Michael Kors, Jimmy Choo and Versace.
Fibre2Fashion News Desk (DS)
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