PETA buys stock in Ralph Lauren, Urban Outfitters and others

Animal rights group PETA has taken advantage of the COVID-19 stock market downturn through purchasing stock in nearly two dozen fashion companies, including Ralph Lauren, Urban Outfitters and Guess.

This move is a strategy the organization often takes to influence decisions made by clothing companies. PETA frequently purchases the minimum number of shares necessary to attend annual meetings, liaise with shareholders, and persuade management decisions.

In the past, PETA has targeted companies including Burberry, Express, Tapestry, Capri Holdings, Target and Qurate Retail Group, using this technique. Burberry, Tapestry and Capri Holdings are among many brands that have vowed to ban fur in recent years, likely due to PETA's influence.

PETA pushes for bans on wool, mohair and cashmere

PETA said that its decision to purchase stock in Ralph Lauren, Urban Outfitters and Guess was motivated by its goal to put an end to the use of wool, mohair and cashmere in clothing products.

"Today's kind consumers want to support companies that share their values and sell chic and comfortable vegan sweaters and coats only," Tracy Reiman, executive vice president of PETA, said in a statement. "PETA is heading to the boardroom to pressure retailers from Ralph Lauren to Urban Outfitters not to sell items that animals suffered and died for."

The production of wool, mohair and cashmere products is seen by many to be humane as animals don't need to be harmed in the shearing process. However, a PETA investigation of cashmere farms in China, Mongolia and Australia revealed certain farmers have been harming and mistreating animals.

Photos courtesy of Peta