PETA buys shares in fashion brands amid coronavirus market downturn

Activists at People for the Ethical Treatment of Animals (PETA) have taken advantage of the coronavirus crisis by acquiring stock in multiple fashion companies.On Tuesday, leaders at the animal rights organisation seized upon the market downturn caused…

Activists at People for the Ethical Treatment of Animals (PETA) have taken advantage of the coronavirus crisis by acquiring stock in multiple fashion companies.

On Tuesday, leaders at the animal rights organisation seized upon the market downturn caused by the covid-19 pandemic to buy up stocks in Ralph Lauren, Urban Outfitters, and Guess, among others.

A minimum number of shares have been purchased – just enough for PETA representatives to attend annual meetings and influence management decisions.

PETA executive vice president Tracy Reiman explained that the organisation is specifically focused on banning wool, mohair, and cashmere.

“PETA is heading to the boardroom to pressure retailers from Ralph Lauren to Urban Outfitters not to sell items that animals suffered and died for,” she commented.

In recent years, members of the group have investigated many supplies to the fashion retailers and alleged that practices are often sorely lacking. In 2018, an expose of the mohair industry in South Africa, available to view on YouTube, revealed Angora goats were thrown across the room, cut, and needlessly slaughtered for their valuable fibres.

Cashmere farms in China and Mongolia were reported to be similarly abusive to animals, with goats screaming in pain as hair was torn from their bodies.

“Today’s kind consumers want to support companies that share their values and sell chic and comfortable vegan sweaters and coats only,” added Reiman.

Other brands targeted by PETA in the initiative include Burberry, Tapestry, Inc., the parent company of Coach, Kate Spade, and Stuart Weitzman, Under Armour, and Capri Holdings, which incorporates Michael Kors and Versace.

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