Animal rights group PETA US has purchased stock in nearly two dozen companies, including Ralph Lauren and Urban Outfitters, in a move aimed at pushing them to ban the use of wool, mohair and cashmere in their clothing.
The move has been made as the stock market takes a downturn amid the coronavirus (Covid-19) outbreak, the group said in a statement.
“Today’s kind consumers want to support companies that share their values and sell chic and comfortable vegan jumpers and coats only,” says PETA director Elisa Allen. “PETA US is heading to the boardroom to pressure retailers from Ralph Lauren to Urban Outfitters not to sell items that animals suffered and died for.”
PETA US – whose motto reads, in part, that “animals are not ours to wear” – frequently purchases the minimum number of shares necessary in clothing companies in order to attend annual meetings, liaise with shareholders, and influence management decisions from the inside.
The other companies targeted in the group’s latest effort include Burberry, Guess, Deckers Outdoor Corp (the parent company of Ugg), Tapestry (the parent company of Coach NY, Kate Spade, and Stuart Weitzman), Lands’ End, Capri Holdings (the parent company of Michael Kors and Versace), and Qurate Retail Group (the parent company of QVC and HSN).
There has been a growing number of global fashion brands banning the use of fur in their clothing lines. The latest is fashion designer Karl Lagerfeld who has banned fur in his collections. He joins a large number of fashion houses with fur-free policies, including Jean Paul Gaultier, Gucci, Versace, Michael Kors, DKNY, Donna Karan and Jimmy Choo.
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By GlobalData
