Canada Goose (GOOS.TO) announced Thursday that it will stop using fur in all its products, a move that comes after years of criticism from animal-rights groups.
The luxury parka maker says it will stop purchasing fur by the end of this year, and will cease manufacturing with fur no later than the end of 2022.
Canada Goose sources the wild coyote fur used in its jackets from Western Canada and the U.S.. The company announced last year that it would begin using reclaimed fur in 2022 as part of its sustainable impact strategy.
The company says the decision to stop using fur in its products is "another example of the brand's commitment to reducing its impact on the environment."
"Our focus has always been on making products that deliver exceptional quality, protection from the elements, and perform the way consumers need them to; this decision transforms how we will continue to do just that," Canada Goose president and chief executive officer Dani Reiss said in a statement.
The company's stock was up more than 3 per cent as of 11:15 a.m. ET, trading at $52 a share.
Canada Goose has faced criticism from animal-rights activists over its use of wild coyote fur in its products for years. According to the New York Times, animal-rights group PETA has been petitioning Canada Goose to stop using fur since at least 2006. The group has launched international campaigns against Canada Goose, urging people to boycott the company.
PETA announced Thursday that it will suspend its international campaigns against Canada Goose.
"PETA will now re-engage the company to push for an end to its use of feathers, which geese and ducks continue to suffer for," PETA president Ingrid Newkirk said in a statement.
Alicja Siekierska is a senior reporter at Yahoo Finance Canada. Follow her on Twitter @alicjawithaj.