{"id":307394,"date":"2022-09-15T15:28:02","date_gmt":"2022-09-15T13:28:02","guid":{"rendered":"https:\/\/highxtar.com\/?p=307394"},"modified":"2022-09-15T15:28:02","modified_gmt":"2022-09-15T13:28:02","slug":"patagonia-owner-gives-up-brand-to-fight-climate-change","status":"publish","type":"post","link":"https:\/\/highxtar.com\/en\/patagonia-owner-gives-up-brand-to-fight-climate-change\/","title":{"rendered":"Patagonia owner gives up brand to fight climate change"},"content":{"rendered":"

The clothing company is valued at $3 billion and has profits of $100 million a year. Its owner, Yvon Chouinard, will transfer ownership to a trust and a non-profit organisation that will dedicate the company’s profits to fighting climate change.\u00a0<\/strong><\/p>\n

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Yvon Chouinard<\/a><\/strong>, a climbing enthusiast, explained in a statement that he chose this route as a way to devote more money to the climate crisis and keep the company’s values intact. “If we have any hope of a thriving planet – and a thriving business – 50 years from now, it will require all of us to do what we can with the resources we have. This is another way we have found to do our part”.<\/strong><\/em><\/p>\n

Unlike fast fashion, the brand invites shoppers to wear its clothes until they reach the end of their useful life. Patagonia shops are not open on Black Friday, a day when consumerism is given free rein. They also give, and will continue to give, 1% of their sales to environmental organisations. Despite this, the company records sales of more than $1 billion annually.<\/p>\n

Chouinard, his wife and the couple’s two children have transferred the company and fortune to two bodies: the Patagonia Purpose Trust, a trust that will hold 2% of the company’s shares, and a non-profit organisation, Holdfast Collective, which will own 98% of the clothing brand. These were set up to use the 100 million to fight climate change and protec<\/p>\n

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Ver esta publicaci\u00f3n en Instagram<\/div>\n<\/div>\n
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Una publicaci\u00f3n compartida por Patagonia (@patagonia)<\/a><\/p>\n<\/div>\n<\/blockquote>\n