PETA Buys Stake in Louis Vuitton's Parent Company
The animal rights group has previously bought stakes in Hermes and Prada.
PETA — the People for the Ethical Treatment of Animals — is once again attempting to stop the fashion industry's use and abuse of exotic animal skins.
PETA has bought a stake in luxury conglomerate LVMH, the parent company to Louis Vuitton, Dior and Givenchy, much like it did with Hermes and Prada in previous years. Having a stake in the company will allow the animal rights activists to attend shareholder meetings and "put pressure on the company to stop selling exotic skins merchandise."
The decision comes after PETA released a video last month about the crocodile farms in Vietnam, exposing reptiles being killed for their skin. The organization, which noted that the slaughtering was "inhumane," claimed that two of the farms shown in the clip provide crocodile skins to LVMH.
At the time of the video's release, LVMH's director of environment Sylvie Bernard responded to the Financial Times, stating, "We have no knowledge of a partner that would practice the method you referred to... any cruel method involving the suffering of the animal is in clear contradiction with our principles and rules." Bernard also told the international business newspaper that its tannery Heng Long had not purchased skins from Vietnam farms since 2014.
"Every PETA exposé of the exotic-skins industry has found sensitive living beings crammed into filthy pits, hacked apart, and left to die," PETA President Ingrid Newkirk stated in a blog post. "From demonstrating on the street to speaking up in the boardroom, PETA will push LVMH to stop selling any bag, watchband, or shoe made from a reptile’s skin."