With the ongoing COVID-19 pandemic and its resulting impact on the fashion and retail industry, People for the Ethical Treatment of Animals (PETA) has taken the opportunity to acquire a considerable number of shares in major fashion brands. PETA, whose efforts are directed towards protecting and safeguarding animal rights, announced that it has bought shares in around 20 businesses including French luxury giant Kering, Burberry, Ralph Lauren and Guess.

The aim behind this exercise is “to push fashion brands to stop using wool, mohair and cashmere,” the NGO said in a statement. According to the association itself, it frequently buys the minimum number of shares required to enable it to take part in a fashion companies’ decision-making meetings to allow it to influence business decisions and strategies from the inside.

The results of these meetings have also been quite impactful – for instance, after acquiring 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 in order to push it “to abandon fur”.

PETA has denounced the use of mohair and cashmere via surveys carried out by the association in South Africa, China and Mongolia. These surveys brought to light the cruel treatment inflicted on goats and sheep by producers while being shorn or taken to the slaughterhouse. PETA is also a shareholder in companies like: Urban Outfitters, Under Armour, Deckers Outdoor Corporation (Ugg’s parent company) and Capri Holdings, which includes brands Michael Kors, Jimmy Choo and Versace.