Normally waking up to big news from the fashion industry means trying to get your head around how 2 brands have somehow managed to align their seemingly very different values and aesthetics into a collaboration “you need”. However, yesterday saw the break of some news that really made everyone sit up and pay attention. Patagonia founder and self proclaimed unintentional billionaire Yvon Chouinard made the ultimate move by announcing an eternal collaboration with Mother Nature and the our very own planet Earth.
What started with using less harmful materials, evolved into giving away 1% of their sales each year and becoming a certified B Corp and California benefit corporation has now culminated in Chouinard transferring 100% of the company’s voting stock (ownership) transfers to the Patagonia Purpose Trust created to protect the company’s values. Then 100% of the company’s nonvoting stock is given to the Holdfast Collective- a nonprofit dedicated to combating environmental crisis and preserving nature.
In short, Patagonia will keep themselves going and anything extra will be paid as a dividend to Holdfast and to quote the brand- “Earth is now our only shareholder”