Patagonia will no longer sell corporate branded vests to financial firms as the US outdoor clothing retailer aims to target more environmentally-focused companies.
The company has banned the sale of its popular branded vests, which are a wardrobe staple on Wall Street and in Silicon Valley, to financial services and technology firms, it confirmed today.
Instead the California-based firm is aiming to partner with “Certified B Corporations”, which are companies that “balance profit and purpose”, and non-profit organisations.
— Binna Kim (@binnaskim) April 1, 2019
Existing customers will not be affected by the recent policy change.
A Patagonia spokesperson said: “Our corporate sales program manages Patagonia’s sales to other companies, non-profits and other organisations.
“We recently shifted the focus of this program to increase the number of Certified B Corporations, 1 per cent For The Planet members and other mission-driven companies that prioritise the planet.
“This shift does not affect current customers in our corporate sales programme.”
The vests are seen as de facto uniforms for fintech and Wall Street types in the US, to the point at which they have been satirised in shows like HBO sitcom Silicon Valley and Billions.