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Animal rights group buys LVMH shares to pressure it over skins

Animal rights group buys LVMH shares to pressure it over skins
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The animal rights group Peta has become a shareholder of the French luxury goods maker LVMH.

Peta – which stands for People for the Ethical Treatment of Animals – said it had bought an unspecified number of shares so that it can pressure the firm to stop selling bags and other merchandise made from exotic skins.

The organisation – which is well known for protests – will have access to shareholder meetings and the right to question board members by being an investor.

It previously followed the same policy with another luxury group – Hermès – buying just one share. At the annual shareholders’ meeting in Paris a Peta member questioned the company’s CEO about the use of exotic skins.

LVMH has denied allegations that it had bought skins in recent years from a Vietnamese crocodile farm accused of cruelty.