HOME PRESS CONTACT FAQ FAQ What is Patagonia Works? Patagonia Works succeeds Lost Arrow Corporation as the holding company for Patagonia, Inc. (apparel), Patagonia Provisions (food), Patagonia Media (books, films and multimedia projects), and future investments and joint ventures. Patagonia Works will also serve as an umbrella for new businesses the company invests in or develops in the future. Like Lost Arrow Corporation, Patagonia Works will offer its member companies value through “collective services” such as accounting, legal, human resources, etc. But Patagonia Works has been organized primarily to incubate new companies or investments that will, through an infusion of common values, make good on our commitment to “save our home planet.” Unlike a traditional holding company, whose primary purpose is to reduce risk through diversification of assets, Patagonia Works aims to invest in companies working to bring about positive change in five critical areas: clothing, food, water, energy and waste. Who is the CEO and President of Patagonia Works? Ryan Gellert is chief executive officer (CEO) of Patagonia Works and Patagonia, Inc. Prior to his appointment to this global role, Ryan spent six years as Patagonia’s general manager of Europe, the Middle East and Africa. During that time, he elevated Patagonia to a position of leadership in Europe’s outdoor industry and environmental communities, overseeing all sales, marketing, environmental and operational activities for the brand. Under Ryan’s stewardship, Patagonia launched its first global environmental campaign around a European initiative: Save the Blue Heart of Europe, an international crusade to protect the last wild rivers of Europe from over 3,000 planned hydropower projects. He also launched Patagonia Action Works in the region, an online tool to connect people with local and global environmental groups, allowing them to take action on causes they care about. Ryan has lived and worked in the United States, Asia and Europe. Before joining Patagonia, he spent 15 years at Black Diamond Equipment, where he held a number of roles, including brand president, vice president of supply chain management and managing director of Black Diamond Asia. An avid climber and backcountry snowboarder, Ryan has climbed and ridden all over the world. He has extensive experience working with direct action environmental groups, having served on the boards of Access Fund, Protect Our Winters, the European Outdoor Group and the Soil Heroes Foundation. In addition, he was a founding individual member of 1% for the Planet. Ryan holds a JD from the S.J. Quinney College of Law at the University of Utah; an MBA from the Florida Institute of Technology; and a BSBA in finance from the University of North Carolina at Charlotte. Will Patagonia Works continue to donate one percent of sales to grassroots environmental groups? Absolutely. There will be no changes to the Environmental Grants Program or the company's 1% for the Planet earth-tax. What is a B Corp (benefit corporation)? Why will each company under Patagonia Works be organized as a B Corp? B Corps (benefit corporations) are a new kind of corporation legally required to: 1) have a corporate purpose to create a material positive impact on society and the environment; 2) redefine fiduciary duty to require consideration of the interests of workers, community and the environment; and 3) publicly report annually on overall social and environmental performance using a comprehensive, credible, independent, and transparent third party standard. In contrast, current law requires corporations to prioritize the financial interests of shareholders over the interests of workers, communities and the environment. In January 2012, Patagonia Inc. was one of the first companies in California to register as a B Corp. Each company under the Patagonia Works will have a common, ethos-led mission and will register as a B Corp to ensure that its values live in perpetuity. How does Patagonia, the clothing brand, fit into Patagonia Works? Patagonia will live under the Patagonia Works umbrella. Patagonia’s mission statement inspired the creation of Patagonia Works, and that mission statement will be infused into each company and brand extension within Patagonia Works. What is $20 Million & Change? $20 Million & Change is the internal fund set up by Patagonia Works to help like-minded start-up companies. The fund’s name is a nod to the fact that $20 million is the starting amount with the ability to grow and, more importantly, with the ability to "change" the way business is done. What are the responsibilities of Patagonia Works as the holding company? The Responsibilities of Patagonia Works: Nurture entrepreneurial ventures Incubate environmentally responsible companies Diversify corporate holdings Extend the reach and the influence of the brand to new markets Influence the global business paradigm Offer a new way to measure return on invested capital Provide long-term economic health with consideration of environmental and social risk Promote The Responsible Economy, Patagonia's ongoing environmental campaign Provide best-quality shared services and allow each business to focus on product, quality, sales and customer experience What are the current key channel companies under the Patagonia Works umbrella? Patagonia, Inc. (apparel) Patagonia Provisions, Inc. (food) Lost Arrow, Inc. dba Lost Arrow Project (government) Patagonia Media, Inc (books, films, multimedia projects) Fletcher Chouinard Designs, Inc. (surfboards) Tin Shed Ventures, LLC (investments) Worn Wear, Inc. (used and upcycled apparel) What are the shared attributes of each company under Patagonia Works? Each company within Patagonia Works will share the core values of Patagonia Inc.: quality, environmentalism, corporate transparency and not being bound by convention. Additionally, all companies will have direct sales as a component. Each will be organized as a B Corp (benefit corporation), be a member of 1% for the Planet® and utilize the Higg Index or other appropriate footprint-based measurement of social and environmental performance. Each company may leverage the following shared corporate services: environmental, legal, finance, technology, distribution, and human resources. Start-up or “angel” investments may be made in companies outside Patagonia Works that are not B Corps, members of 1% for the Planet or subscribers to a social and environmental performance index. But these companies must share our core values and their work must help provide solutions to the environmental crisis. Could Patagonia Works be considered an incubator for environmentally and socially responsible companies? Absolutely. Some Patagonia Works investments could be smaller seed investments to fledgling, responsible companies in need of capital. Investments of any size will be limited to like-minded, responsible businesses. Will Patagonia Works wholly own any of the companies it invests in? Not necessarily. Patagonia Works could be an investor, or joint-venture partner. SPEAKER & PUBLIC ENGAGEMENT REQUEST FORM WORN WEAR Twitter Instagram Facebook Google+ | Patagonia.com