” Earth is now our sole shareholder writes founder Yvon Chouinard in an open letter published on the Patagonian website.
“If we have any hope for a prosperous planet, let alone a business, we will all have to do what we can with the resources we have. This is what we can do. “
The founder of the outdoor clothing brand, in agreement with his wife and children, has just sold 100% of his company shares to a fund dedicated to respecting its values and to an association for the protection of the environment. the New York Times September 14, 2022.
A fashion brand that has pioneered ecology for 50 years
Valued today at $ 3 billion, Patagonia was founded nearly fifty years ago and has since established itself as a pioneering brand in terms of ecology. And this, from the manufacture of products to the end of their life cycle, including their repair.
Each year, the brand donates at least 1% of its revenue to environmental NGOs, as well as raising awareness of each of its increasingly committed claims to the planet and human rights. This makes him a model in this industry, far from the strategies of greenwashing that multiply to satisfy the growing desire for ecology on the part of the general public.
Neither scholarship nor transfer to Patagonia, bequeathed to the benefit of the planet
As surprising as it may seem, it is therefore a rather logical decision by its founder Yvon Chouinard who writes:
“One option was to sell Patagonia and give all the money away. But we couldn’t be sure that a new owner would keep our values or keep all of our employees. “
Taking public Patagonia was also not an option:
“Even well-intentioned listed companies are under too much pressure to create short-term gains at the expense of long-term viability and responsibility. “
The company will therefore continue on its good momentum of products designed to last, on its communication that invites to consume less and even to troll political leaders to change things.
It is therefore an extremely rare and exemplary decision by a billionaire man and his family, while the climate emergency is only getting worse.
Cover photo credit: Patagonia
Source: Madmoizelle
Ashley Root is an author and celebrity journalist who writes for The Fashion Vibes. With a keen eye for all things celebrity, Ashley is always up-to-date on the latest gossip and trends in the world of entertainment.
