PETA to Buy Canada Goose Shares in Effort to Stop Firms Brutal Fur Practices
The first day of trading for high-end coat maker Canada Goose won't be without its fair share of controversy.
More than a dozen activists for the People for the Ethical Treatment of Animals (PETA) planted their feet in front of the New York Stock Exchange Thursday to complain about the company's animal rights policies (see Periscope below). One protester said she believes Canada Goose is a "sad" investment, and expects shares to "tank" as more people learn about Canada Goose's animal rights policies.
“The fur on Canada Goose jackets comes from coyotes, who can endure a long, excruciating death in steel traps,” Peta associate director Elisa Allen said in a statement this week on the group’s website.
“Anyone who buys or sells one of the company’s fur-trimmed jackets is responsible for these animals’ suffering.”
PETA, which objects to Canada Goose's use of coyote fur trim and goose down, plans to spend about $4,000 on Canada Goose shares. PETA spokesman Ben Williamson told TheStreet the final amount depends on the ultimate offering price, but PETA will buy the minimum number of shares required to attend Canada Goose's annual general meeting.
Buying shares is "a strategy that's worked in the past," Williamson said, noting that Tesla (TSLA) adopted vegan leather for its car interiors "as the result of us asking a question of Elon Musk at its AGM." Similarly, SeaWorld's (SEAS) decision to stop breeding orcas prompted PETA, a SeaWorld shareholder, to withdraw a resolution proposing just that.