Patagonia case.
Yvon Chouinard, the founder of Patagonia, announced that as of September 2022, the company is giving away its $3 billion ownership stake in the business. Essentially Patagonia directs all business profits toward initiatives and causes that safeguard wildlife, conserve biodiversity, and address the climate problem.
It’s atypical behavior for a business, but when it goes to branding we always knew that Patagonia stood by its high branding values and did everything according to its purpose.
But this is a whole new level.
How you think Patagonia’s case will affect brands go further with their reasons to exist? Will it bring new standards for other brands and they understanding of purpose? Or it is just once-in a lifetime thing?

submitted by /u/evvvehq
[link] [comments]