The Strategist

PETA becomes Givenchy's shareholder


01/13/2017 - 13:58



Organization People for the Ethical Treatment of Animals, PETA, has become a minority shareholder of French luxury manufacturer LVMH Moet Hennessy Louis Vuitton SA products. This way, the organization hopes to intensify the fight against the use hides and skins of exotic animals in the fashion industry, writes the Financial Times.



Peta
Peta
PETA’s decision to buy shares in LVMH resulted from investigation of crocodile farms in Vietnam, where the animals were kept in tiny pens and were skinned alive. Two of these farms delivered the leather products to company Heng Long, owned by LVMH. Meanwhile, LVMH commented that Vietnamese products from crocodile farms have not been bought since 2014.

Previously, PETA for the same purpose has acquired shares of Hermes and Prada. The group was founded in the US in 1980. Now, it is an international non-profit charitable organization with offices in the UK, Germany, the Netherlands, India. Its website states that number of its members and supporters numbers more than 5 million people.

LVMH is the largest producer of luxury goods (70 brands) in the world, including accessories (Louis Vuitton and of Fendi), alcoholic drinks (Moet & Chandon, Dom Perignon, Veuve Cliquot, Krug, Hennessy, Glenmorangie and Belvedere), watches (TAG Heuer, Hublot, Zenith), jewelry (Bulgari, Chaumet, Fred, as well as a joint venture with De Beers), clothing and footwear (Givenchy, Loewe, Donna Karan, Marc Jacobs, Loro Piana, etc.), perfumes and cosmetics (Christian Dior , Guerlain, Givenchy, Kenzo, Sephora store chain).

In 2015, founder of the world famous Armani, Italian fashion designer Giorgio Armani announced his refusal to use animal fur in the brand’s collections. According to him, all collections of the fashion house are «fur free» since autumn-winter 2016 season. This term is often used in the fashion world, and means that the clothing contains no fur clothing materials.

According to Giorgio Armani, specialists of his company created artificial fur, which in its qualities is not inferior to the natural material. This "makes practice of animal cruelty pointless," - emphasized the Italian fashion designer. Previously, Armani had often used animal fur in their collections. A few years ago, tired of animal advocates’ attacks, the fashion designer accused them that they did no good to nature, and committed most of the time to piggyback promotion at the expense of his name. He urged representatives of the animal protection organizations to pay attention to other big-name designers, who used fur of animals in their shows more often than he had. 

Previously, world-famous clothing brands such as Calvin Klein, Hugo Boss, Tommy Hilfiger also refused animal fur. Stella McCartney, a fashion designer and daughter of one of The Beatles, was another one to phase out the natural material in her collections.

source: ft.com




More
< >

Thursday, September 21st 2017 - 11:49 NVIDIA or AMD: Investor's choice