Patagonia will no longer sell vests with financial company logos on them

Sorry, Braden, Haden and Caden. No more “Midtown uniform” for you bros.

Outerwear company Patagonia said it would no longer sell merchandise to financial firms through its corporate sales program – a potential threat to the popular menswear look dubbed “the Midtown uniform” by one Anonymous Instagrammer with 114,000 followers.

Patagonia’s co-branded fleece vests and jackets in particular have become a staple in the wardrobes of many New York men who apparently work in finance and seem to travel in packs – and have swapped formal suit jackets for a more casual look as a work outfit. codes are becoming increasingly lax in banks and other financial firms.

Patagonia’s policy change was first reported by Binna Kim, a public relations manager whose order for a customer was rejected by a Patagonia apparel retailer. She represents hedge funds, banks, fintech and wealth management firms including Morgan Stanley, Citi and many others.

“Patagonia has nothing against your financial industry client, it’s just not an area they currently market through our co-branding division,” read a company statement that she tweeted. “While they have co-branded here in the past, the brand is currently solely focused on co-branding with a small collection of like-minded, brand-aligned areas; outdoor sports that are relevant to the equipment we design, regenerative organic farming and environmental activism,” he continued.

The statement, which comes not from Patagonia but from an unnamed retail partner, says the company’s change in direction is meant to align with Patagonia’s new mission statement, “We are in business. to save our home planet”.

The private company is reluctant to market businesses it deems “environmentally harmful,” including “religious groups/churches, food groups, affiliated political businesses/groups, financial institutions, etc.,” the statement said. .

Patagonia confirmed to CBS MoneyWatch the change to its corporate program, saying that the company “has recently changed the focus of this program to increase the number of Certified B companies, 1% For The Planet members and other companies mission-driven that put the planet first”.

So-called B corporations publicly commit to safe and responsible business practices that “benefit everyone,” among other criteria. Patagonia has earned this designation and is also part of a group of companies that donate the equivalent of 1% of its sales to environmental nonprofits.

But Blake, Drake, Jake and Lake need not worry. This change does not affect customers who are already part of its corporate sales program, Patagonia said in a statement. And there’s always a shopping spree at the closest Patagonia store in Midtown Manhattan, a few subway stops from downtown on 14th Street.

Previous The new SaaS Finance division of Hercules Capital has successfully generated more than $305.0 million in new debt commitments since the beginning of 2018
Next Job Opportunity: Finance Manager at Tiny Trees Preschool