Shareholders are the owners of a corporation.

“Profit Objectives
Companies with shareholders have historically had a single primary objective of maximizing profit. While many companies try to balance shareholder interests with those of other stakeholders, profit objectives are typically still in focus with shareholders. A sole proprietor or partners in a business firm often have greater flexibility in setting goals aside from earning profit. Profitability also is important in attracting and retaining stockholders and having a solid stock value.”
http://smallbusiness.chron.com/shareholders-affect-business-65880.html

“Moet Hennessy Louis Vuitton (LVMH) is a public company headquartered in Paris, France (MC:PAR) and rounds out the global makeup behemoth category ranked 11th globally by revenue in 2014. A few interesting items of note with LVMH – first, Christian Dior chairman Bernard Arnault is the CEO of LVMH and Christian Dior owns substantive shares in LVMH. Second, Sephora brand collaborations have been spun off from Sephora as Kendo Beauty Group but remain in the LVMH portfolio.

Kendo Holdings, Inc. operates as a subsidiary of LVMH Moët Hennessy Louis Vuitton S.E.”

Private Equity Players
In this section, I have included investments and purchases of makeup brands by private equity firms and private investor groups. Some of the original owners of these brands retain a minority share of the company.
http://averymaebeauty.blogspot.com/2015/08/who-owns-who-corporate-ownership-of.html#.Wj6vq3pOlDv

Steiner Leisure Limited’s Shareholders Approve Acquisition by Catterton
Some of Catterton’s investments include: Cover FX

PETA is a LVMH shareholder.

This is who owns your beauty brands
http://www.refinery29.com/beauty-brands-ownership-guide

LVMH- NYSE
https://www.marketwatch.com/investing/stock/lvmuy

It is big business. Shareholders do not like to see a profit loss.

“The devil is in the details.”

Company Overview of Kendo Holdings, Inc.
“Kendo was started by David Suliteanu in 2010 while he was the CEO of Sephora Americas. In 2014 David joined Kendo to work fulltime as its CEO and the company became independent of Sephora, and joined the Perfumes and Cosmetics group of LVMH (Louis Vuitton Moet Hennessy, the world’s largest luxury brand group).”
“Kendo Holdings, Inc. operates as a subsidiary of LVMH Moët Hennessy Louis Vuitton S.E.”

“Moet Hennessy Louis Vuitton (LVMH) is a public company headquartered in Paris, France (MC:PAR) and rounds out the global makeup behemoth category ranked 11th globally by revenue in 2014. A few interesting items of note with LVMH – first, Christian Dior chairman Bernard Arnault is the CEO of LVMH and Christian Dior owns substantive shares in LVMH. Second, Sephora brand collaborations have been spun off from Sephora as Kendo Beauty Group but remain in the LVMH portfolio.

LVMH owned makeup brands include: Sephora, Benefit, Givenchy, Guerlain, Fresh, Makeup Forever, Dior, Marc Jacobs beauty, Bite Beatuy, and Kat Von D. Other brands held in their portfolio include: Elizabeth and James fragrance, Ole Henriksen, Formula X, Sephora collaborations with Disney and Hello Kitty, and Kenzo fragrance.”
Source: http://averymaebeauty.blogspot.com/2015/08/who-owns-who-corporate-ownership-of.html#.Wj6by3pOlDt

“In October 2017 Ethical Consumer viewed the LVMH website, and found that it sold products made from leather and silk and fur.
Fur: It was clear from the LVMH website that fur was a significant part of the company’s business – for example its brand Fendi had ‘Fur Atelier’ in Rome. Animals were often subjected to inhumane conditions and severe maltreatment on fur farms ”
Source: http://www.ethicalconsumer.org/companystories.aspx?CompanyId=18420&CategoryId=279

“The devil is in the details.”

She hasn’t applied for it.

Completely agree with you.I dont know how much but money can fund animal testing. Brands should not be cruelty free if there parent company isn’t and if they aren’t vegan or have a huge majority of vegan and switching over.

Yes it can fund animal testing.