The animal rights pressure group PETA has purchased shares the French luxury goods company Louis Vuitton Moet Hennessy (LVMH). PETA (People the Ethical Treatment Animals) bought the shares order to pressure LVMH to stop selling bags and other products made exotic animal skins, such as crocodile. PETA has not disclosed what its shareholding is, although there are rumours that it has bought just a single share. Even this stake LVMH will mean PETA is eligible to attend shareholder meetings. PETA will also exercise its option to question the LVMH board members front other shareholders to make sure its agenda to protect animals is heard and addressed.
The main reason PETA's share purchase is to bring LVMH to account regarding the treatment crocodiles. PETA said: "In the wake an exposé revealing that reptiles crocodile farms Vietnam (including two that have supplied skins to a tannery owned Louis Vuitton's parent company, LVMH) are confined to tiny pits and sometimes hacked while they're still alive and thrashing, PETA has become a shareholder of LVMH…to put pressure the company to stop selling exotic skins merchandise." An LVMH spokeswoman replied: "We have no knowledge ... any cruel method involving the suffering the animal. [This] is in clear contradiction our principles and rules."