Peta buys stake in Frasers Group
Frasers Group is the latest target for Peta’s investment activism, with the animal rights organisation buying stock in the business to protest against the sale of animal fur products at House of Fraser.
The strategy is part of Peta’s shareholder campaign, which has seen it invest in many clothing companies including Louis Vuitton, Boohoo, Hermès and Hugo Boss to gain access to annual shareholder meetings.
Peta claims House of Fraser has recently reversed its longstanding fur-free policy as a number of animal fur items were found on sale on the department store’s webstore.
The activist group staged protests outside the House of Fraser store on Oxford Street on Black Friday and during the pre-Christmas shopping rush to complain about the decision. It claims over 26,000 people support its campaign against the national chain.
“House of Fraser's fur ban reversal flies in the face of what today's kind shoppers want,” said Peta director Elisa Allen.
“As a shareholder, Peta US will be able to push the department store to do what's right for its own reputation and for animals by reinstating its policy against selling bits and pieces of their fur.”
The share purchase will allow a Peta representative to attend the Frasers annual general meeting later this year, speak to other shareholders and executives, and push for shareholder resolutions to further its cause.
The group has claimed a number of victories in recent years, including fur bans at fashion companies including Macy’s, Balmain and Prada.
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