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Patagonia (Clothing) Won't Sell to Certain Financial Firms


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#1 LFC

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Posted 04 April 2019 - 12:30 PM

Patagonia has decided that Wall Street firms with no redeeming social value aren't customers they really want.

Quote

At the highest levels of power in the finance and tech industries, there is one gold standard, one unifying symbol that binds together all self-styled masters of the universe, all the titans of industry: the Patagonia Nano Puff vest with an embroidered corporate logo, also know as the Power Vest.

This look will now vanish to distant memory, like Gordon Gekko’s pinstriped suits and Steve Jobs’ black turtleneck (which disgraced Theranos founder Elizabeth Holmes fully ruined) due to a policy change at Patagonia that will — effectively — exclude certain clients.

The company is getting selective, and told BuzzFeed News it has changed its policies for corporate sales clients: it will focus on selling to do-gooder B Corporations, i.e., companies with a charity element or that have committed to supporting causes like “community” or “the environment.” All those evil hedge funds and “Uber-for-X” tech startups can go pound sand.

“While I think new fintech startups are going to be devastated if they can't get co-branded Patagonia vests, I'm not too surprised that Patagonia is taking a closer look at how their brand is being used, and probably trying to not let Patagonia be synonymous with the ‘finance bro,’” said Binna Kim, who first noticed the change.

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