The American animal-rights group People for the Ethical Treatment of Animals (Peta) has taken advantage of the stock market’s decline caused by the Covid-19 pandemic to purchase stakes of undisclosed sizes in approximately 20 companies in the luxury industry, among them Kering, Burberry, Ralph Lauren and Guess. The purpose is to encourage fashion brands to “stop using wool, mohair, and cashmere,” as the group said in a statement, and “switch to chic, eco-friendly, and ethical materials,” in the words of its top corporate liaison in France, Mathilde Dorbessan. It has previously opposed the use of fur by investing in Prada, Hermès and, at its initial public offering in 2018, Farfetch. Generally, it purchases the minimum stake to ensure it has some say in strategic decisions. Peta’s other holdings include Urban Outfitters, Under Armour, Deckers (which owns Ugg) and Capri Holdings (Michael Kors, Jimmy Choo, and Versace).