In an open letter, Yvon Chouinard said instead of going public, the company was"going purpose". Here's what that means.Sipa USA Budrul Chukrut / SOPA Images/Sip
, Mr Chouinard outlined his thought process and motivation, writing that while the company had been doing its best to address the environmental crisis, it was not enough. "Instead of extracting value from nature and transforming it into wealth for investors, we’ll use the wealth Patagonia creates to protect the source of all wealth."Mr Chouinard initially began making climbing gear for himself and his friends in California in the 1950s, which later evolved into outdoor clothing.Today, Patagonia owns and operates offices in the United States, the Netherlands, Japan, South Korea, Australia, Chile and Argentina, with more than 70 stores worldwide.
Patagonia is also a certified B Corp, which means it must have an explicit social or environmental mission, a legally binding commitment to be accountable to all stakeholders, and maintain transparency.How can you give a company to the planet? "Despite its immensity, the Earth’s resources are not infinite, and it’s clear we’ve exceeded its limits," Mr Choinard wrote.Many of the world's richest people have made significant donations in recent years.
Yeah, nah... it won't work. But then, it's better than giving it away to space research and cats.
sounds like they have a good mark up of their clothing
LOL - nothing to do with tax🤑
The Planet is saved already
Exactly the pridigm shift required to 'save the planet' Our greatest demise has been the preservation of a fabricated monetary system, over the preservation and acknowledgement of our greatest riches. Money has no worth without a planet. Our planet has greater worth without money
Love this - so much respect for the brand. Unlike lululemon who loves a bit of greenwashing.
Bravo! And thankyou from and my grandchildren!
Earth is the only shareholder says bloke who covered it in shitty nylon
Hes lost it
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