Flora’s stock price soars after Mumsnet anti-transgender trolls attempt boycott
Flora previously advertised its partnership with Mumsnet on its packaging, but cut ties
due to ‘anti-trans’ comments on the site (Twitter/@Mimmymum)
It’s been just under a month since Flora renounced its partnership with ‘transphobic’ Mumsnet, and stock prices have risen significantly despite fervent attempts to boycott the brand.
Upfield, the owner of Flora, decided to cut ties with parenting forum Mumsnet in October over the many anti-trans comments on the site.
After being queried on its position by an LGBT+ activist, Upfield tweeted: “We’ve investigated. We are wholly committed to our values, which include treating everyone equally, so have made the decision to no longer work with Mumsnet. #DiversityMatters.”
In an entirely predictable response, one Mumsnetter started a boycott against Flora that was joined by hundreds of other commenters.
“Oh dear, Flora,” one wrote. “The only thing your tweet suggests to me is that whoever wrote it, is quite content to lose the custom of the 12-14 million unique users of Mumsnet. Mostly women. Your grasp of business is absolutely shocking. Not to mention your attitude to women, your customer base. Oh well.”
Another tweeted: “The shareholders may have something to say about the big hit their shares are going to take…”
But quite the opposite happened – according to Market Watch, Upfield’s shares actually rose considerably, reaching their highest point for several weeks. And they’re still rising.
Upfield, which is owned by investment firm KKR, had a stock price of $26 on October 11 when it distanced itself from Mumsnet. As of November 5, the stock price has risen to $29.5 and shows no sign of dropping.
Obviously the anger of a minority of Mumsnetters has had literally no effect on Upfield’s sales.
Flora is not the first brand to distance itself from Mumsnet. The frozen food giant Birds Eye severed ties with the site in April, and children’s charity NSPCC was forced to end a Facebook Live chat after Mumsnetters flooded it with a slew of ‘transphobic’ comments.
“Companies know that there are significant brand risks in being aligned with discriminatory content,” a spokesperson for Stop Funding Hate told PinkNews.
“By contrast, brands that take a positive stance on equality and inclusion can win the loyalty of the growing number of consumers who want the companies they shop with to uphold those values.”
It’s great news for LGBT+ advocates, who are keen to see brands practising what they preach.
Published at Tue, 05 Nov 2019 19:05:33 +0000