Luxury apparel manufacturer Canada Goose went public this week, with shares trading on the New York and Toronto stock exchange.
The Toronto-based company are known for their $900 parka coats that are made using duck down and coyote fur.
The initial public offering (IPO) of 20 million shares are up 25% after the first day of trading, raising $255 million.
An unlikely investor of the company is PETA (People for the Ethical Treatment of Animals). They purchased 230 shares in the IPO, valued at over $4,000.
Spokesman for the animal rights organisation Ben Williamson has said, “PETA is trying to bring a shareholder resolution to Canada Goose’s next annual meeting where we will ask them to abandon the cruel use of fur and feathers,”- the minimum investment required to submit a shareholder resolution is $2,000.
As well as investing, activists were present outside both stock exchanges protesting the company – they wore coyote masks and carried signs saying ‘Trading in lives is bad for business,’ and ‘Indecent Public Offering.’ Canada Goose warned investors that animal rights were a business risk.
PETA have been long time protesters of Canada Goose. Last November at the opening of their branch in Soho, NY, more than 50 PETA members protested outside.
Also, last year they uploaded a graphic video to their Facebook page of a coyote in a the same trap that Canada Goose use. It has been viewed more than 16 million times and comes with a warning before you play it.
What if you saw this before buying a Canada Goose jacket?[via Robert Banks]
Posted by PETA (People for the Ethical Treatment of Animals) on Tuesday, January 26, 2016
PETA have said that trapped coyote mothers have been known to attempt to chew off their own limbs to escape to get back to their cubs. Before the trappers find them, many animals die of infection, blood loss or are killed by predators. The ducks used for their down are alive when their feathers are plucked.
Canada Goose have responded to the backlash they have received from animal rights activists:
We understand and respect that some people think animal products should never be used in any consumer products, however we do not share that view. We are committed to providing full transparency about how we make our products, including the ethical sourcing and responsible use of animal products.
Protesters can disrupt sales at our stores, or use social media or other campaigns to sway public opinion against our products.
If any such activists are successful at either of these, our sales and results of operations may be adversely affected.