Fashion

PETA buys stock in Ralph Lauren, Urban Outfitters and others


PETA buys stock in Ralph Lauren, Urban Outfitters and others

Animal rights group PETA has taken advantage of the COVID-19 stock
market downturn through purchasing stock in nearly two dozen fashion
companies, including Ralph Lauren, Urban Outfitters and Guess.

This move is a strategy the organization often takes to influence
decisions made by clothing companies. PETA frequently purchases the
minimum number of shares necessary to attend annual meetings, liaise
with shareholders, and persuade management decisions.

PETA buys stock in Ralph Lauren, Urban Outfitters and others

In the past, PETA has targeted companies including Burberry,
Express, Tapestry, Capri Holdings, Target and Qurate Retail Group,
using this technique. Burberry, Tapestry and Capri Holdings are among
many brands that have vowed to ban fur in recent years, likely due to
PETA’s influence.

PETA buys stock in Ralph Lauren, Urban Outfitters and others

PETA pushes for bans on wool, mohair and cashmere

PETA said that its decision to purchase stock in Ralph Lauren,
Urban Outfitters and Guess was motivated by its goal to put an end to
the use of wool, mohair and cashmere in clothing products.

“Today’s kind consumers want to support companies that share their
values and sell chic and comfortable vegan sweaters and coats only,”
Tracy Reiman, executive vice president of PETA, said in a statement.
“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.”

The production of wool, mohair and cashmere products is seen by
many to be humane as animals don’t need to be harmed in the shearing
process. However, a PETA investigation of cashmere farms in China,
Mongolia and Australia revealed certain farmers have been harming and
mistreating animals.



READ SOURCE

READ  Why the new Boots summer ad is the perfect antithesis to tired body-shaming slogans

Leave a Reply