Patagonia has a new owner –– Earth.
Yvon Chouinard – the founder of the well-known outdoor retailer – announced via an open letter on the company’s website that he and his family have given away Patagonia to a non-profit organization and specially developed trust to help combat climate change. Patagonia is worth around $3 billion.
Click here to read the story at people.com.
Discussion Questions:
- What is a marketing plan?
- What is a mission statement?
- Why are mission statements important to a business or brand?
- What do you think Patagonia’s mission statement might look like?
- What is leadership?
- Why is leadership important in business?
- Who is Yvon Chouinard?
- How might Yvon Chouinard represent an example of a successful entrepreneur?
- Why did he decide against going public or selling the business and donating the proceeds of the sale to the causes he supports?
- What might the decision to give the company away to a nonprofit say about Yvon Chouinard’s leadership style?
- What is corporate responsibility?
- Historically, what has Patagonia’s approach to corporate responsibility been?
- Why do you think Yvon Chouinard chose to give the company away to a nonprofit?
- What is a brand?
- What is brand image?
- How would you describe Patagonia’s brand?
- Moving forward, what can the brand do to continue its mission despite no longer being owned by Yvon Chouinard?
