American retailing company Patagonia is known for the retailing of outdoor clothing. The incorporation was founded on May 9, 1973, by Yvon Chouinard.
The Apparel industry is currently headquartered in Ventura, California in the United States with thousands of employees, hundreds of stores in 10+ countries, and factories in 16 countries widely spread across 5 continents. Each Year this Private benefit corporation gross millions and billions of dollars, as of this year 2022, Patagonia’s revenues has estimated at $1.5 billion.
Yvon used to run Chouinard Equipment and was the seller of hand-forged mountain climbing gear and Scottish rugby shirts being a rock climber. His hard work, love, and success in climbing have attracted other climbers as he collaborated with Tom Frost in 1965.
Patagonia‘s first store was born in 1973 at Santa Clara St. in Ventura and got labeled as Great Pacific Iron Works( later known as Lost Arrow Corporation). The company also expanded its product variety, they started selling athletic equipment, backpacks, sleeping bags, camping food, and clothing.
About the Owner of Patagonia.
Yvon Chouinard is now usually spotted in the lists of Billionaires. According to Forbes, his real-time net worth has been estimated at $1.2 billion.
In September 2022, Yvon donated all the stakes of his 49-year-old clothing and gear retailing company to a nonprofit trust just to help them to fight against the climate crisis on earth.
On Wednesday, September 14, he announced he is donating his entire $3 billion worth of the company to the Holdfast Collective NGO.
His family donated 2% of all stock-making authority went to Patagonia Purpose Trusts and the rest other 98% to the NGO trust. “Instead of ‘going public, you could say we’re ‘going purpose’, All profits, in perpetuity, will go to our mission to ‘save our home planet,” Chouinard stated.
“As of now, Earth is our only shareholder.”
“If we have any hope of a thriving planet—much less a business—it is going to take all of us doing what we can with the resources we have. This is what we can do.”
By Yvon Chouinard
The company used to donate 1% of sales to environmental groups and Planet Scheme which is worth $140 million. The Hold Fast Collective is now the owner of Patagonia, Inc.
Ryan Gellert is the CEO of Patagonia since Sep 2020 and the former manager of Patagonia for the European market (EMEA). He used to work as a President at Black Diamond Equipment and spent more than 15 years there.