Patagonia has long been at the forefront of what is now emerging as an increasingly popular new flavor of capitalism. Today's customers want their dollars to go to companies that will use their money to make the world a better place. Patagonia donates 1 percent of sales to environmental nonprofits, and in 2016 gave 100 percent of Black Friday sales-about $10 million-to environmental groups. Late last year, it changed its mission statement to We're in business to save our home planet." And on Sept. 20, Patagonia shut down its stores and offices so that employees ... could strike alongside youth climate activists. Environmental activism has been part of Patagonia's DNA since it was founded. It has donated $100 million since 1985 to environmental groups, including the Conservation Alliance, which it helped found in 1989 and which works to protect nature in America. It has been repairing customer's clothes since the 1970s, and it operates one of the largest apparel repair centers in North America. In 2013, it launched a venture capital fund that invests in start-ups that work on environmental issues, such as Wild Idea Buffalo, which raises buffalo while restoring grasslands to the Great Plains, and Bureo, which converts discarded fishing nets into consumer products like sunglasses. Patagonia "really walks the walk and talks the talk," said Richard Jaffe, an independent retail consultant. "They invest a lot of time and energy into being a catalyst for change."
Latest
Latest News
Each news summary is created according to strict standards. Here's how we do it.
Each summary is created using a consistent editorial procedure. The target length is approximately 16 lines of 11-point Arial text in a 650-pixel-wide column. Up to 25% of a summary may be set in bold to emphasize the most important ideas. Summaries are composed of verbatim excerpts presented in the same sequence as they appear in the original news source, with very minor editorial additions. Where material has been omitted between excerpts, the omission is indicated with ellipses (...). Any words added by an editor for clarity or context appear in [brackets]. Our original news editor was Fred Burks. Tod Fletcher edited most summaries from 2007 through 2014, and Mark Bailey has served as news editor since 2014.