Animal rights pressure group buys LV shares
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READING:
The animal rights group PETA has bought shares in the French luxury goods company Louis Vuitton (LV). PETA (People for the Ethical Treatment of Animals) bought the shares to pressure LV to stop selling products made from exotic animal skins. PETA has not said how many shares it bought. There are rumours that it has bought just one share. Even this will mean PETA can go to shareholder meetings. PETA will also question the LV board members in front of other shareholders to make sure its concerns about protecting animals are heard and addressed.
The main reason for PETA buying the shares is to highlight the treatment of crocodiles. PETA said it has information showing that crocodile farms in Vietnam that supply skins to Louis Vuitton are kept in tiny pits and sometimes cut into while they are still alive. It said: "PETA has become a shareholder of LV…to put pressure on the company to stop selling exotic skins merchandise." An LV spokeswoman replied: "We have no knowledge of ... any cruel method involving the suffering of the animal. [This] is in clear contradiction of our…rules."
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