Animal rights group buys LVMH shares to pressure it over skins

euronews (in English) - Friday, 13 January 2017
The animal rights group Peta has become a shareholder of the French luxury goods maker LVMH. Peta โ€“ which stands for People for the Ethical Treatment of Animals โ€“ said it had bought an unspecified number of shares so that it can pressure the firm to stop selling bags and other merchandise made from exotic skins. The organisation โ€“ which is well known for protests โ€“ will have access to shareholder meetings and the right to question board members by being an investor. It previously followed the same policy with another luxury group โ€“ Hermรจs โ€“ buying just one share. At the annual shareholdersโ€™ meeting in Paris a Peta member questioned the companyโ€™s CEO about the use of exotic skins. LVMH has denied allegations that it had bought skins in recent years from a Vietnamese crocodile farm accused of cruelty. #BREAKING Luxury good maker LVMH said Louis Vuitton brand ceased all trading w Vietnamese farms which peta alleged mistreated crocodiles.โ€” Nahayat Tizhoosh (@NahayatT) January 13, 2017

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