In some amazing news for sustainable fashion, and indeed the world, the billionaire founder of the outdoor clothing and apparel brand Patagonia Yvon Chouniard has once again taken groundbreaking steps in industry. In a move designed to avoid selling the company and changing its values he has relinquished control of the company to a charitable trust organisation. This trust will ensure that any surplus profits that aren’t needed to run the business will be used to fight climate change. With sales nearing $1.5 billion this year that would amount to around $100 a year in vital donations to climate change causes.
Founder Yvon Chouinard who has always claimed he “never wanted to be a businessman” has split ownership of his company between a new entity called the Patagonia Purpose Trust and the newly formed Holdfast Collective a non profit that will use “every dollar received to fight the environmental crisis, protect nature and biodiversity and support thriving communities”
Patagonia has long been at the forefront of sustainability in the clothing industry and this moves only serves to strengthen an ecological company legacy that was already one of the earliest to become a b-corp company and has been donating 1% of its profits since the 1980s.
Patagonia website now reads “As of now. Earth is our only shareholder.” We think that's quite right too.
