29 November 2016

BUSINESS - Patagonia to Donate $10 million Through Social Innovation

Patagonia, a specialist in outdoor clothing and gear, pledged to donate 100% of its Black Friday sales to environmental causes.

Their hope was to bring in $2 million to distribute to a number of organizations, many of which are smaller and underfunded.

The response was overwhelming, with customers dubbing it “a fundraiser for the earth" and the company generated a record-breaking $10 million in sales.

“The enormous love our customers showed to the planet on Black Friday enables us to give every penny to hundreds of grassroots environmental organizations working around the world,” Patagonia stated in a blog post.

The company has an on-going commitment to donate 1% of their every day sales to non-profit environmental groups.

This commitment, along with the hugely successful Black Friday event, demonstrates how organizations that align their values with consumer values can achieve business success and gain customer loyalty.

“We felt it was important to go further and connect more of our customers, who love wild places, with those who are fighting tirelessly to protect them,” Rose Marcario, President and CEO said on their website.

“By getting active in communities, we can effect local change to protect the food our children and we eat, the water we drink, the air we breathe and the treasured places we love the most.”

The Patagonia Black Friday event is an example of social innovation in action.

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