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Patagonia refuses to make ‘finance bros’ any more vests

Lucy Dean
Image: AAP
Image: AAP

Cult outdoor clothing company Patagonia will no longer make branded jackets and sweater vests for companies in the finance industry in a stand against practices in the sector.

The Patagonia sweater vests have become ubiquitous among finance sector workers in Wall Street known as “finance bros”.

But Patagonia is now stepping away from the association, according to emails revealed on Twitter.

Binna Kim, the president of New York-based financial communications firm Vested, shared her interaction with the clothing brand earlier this week, asking if this was “The end of the fintech uniform?! Farewell Patagonia vests”.

According to the email shared, Patagonia now requires firms to align with its eco-friendly values if they want Patagonia to make branded sweater vests for them.

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“Patagonia has nothing against your client or the financial industry, it’s just not an area they are currently marketing through our co-brand division,” the email said.

“While they have co-branded here in the past, the brand is really focused right now on only co-branding with a small collection of like-minded and brand aligned areas,” it continued, listing these as outdoor sports, regenerative organic farming and environmental activism.

“Due to their environmental activism, they are reluctant to co-brand with oil, drilling, mining, dam construction, etc. companies that they view to be ecologically damaging.”

Patagonia said it would also be reluctant to partner with religious groups, political groups and food groups.

“This is going to cause a fintech crisis,” Kim wrote on Twitter. “Run for the hills.”

She also noted that the interaction occurred on 1 April and may have been an April Fool’s Day prank.

But in a statement provided to Buzzfeed, the company is becoming more selective, choosing to focus on companies that have a focus on doing good.

“Our corporate sales program manages Patagonia’s sales to other companies, non-profits and other organisations,” the statement said.

“We recently shifted the focus of this program to increase the number of Certified B Corporations, 1% For The Planet members and other mission-driven companies that prioritize the planet. This shift does not affect current customers in our corporate sales program.”

Twitter reacts

“Patagonia kills the finance / tech bro uniform and will no longer be embroidering vests for financial services companies!” one user reacted in shock, suggesting finance workers just buy a sewing machine.

Others applauded the decision.

While others said the look now meant “Wall Street”.

The change comes as finance firms face increasingly higher expectations of corporate responsibility.

The Reserve Bank of Australia recently warned that climate change will have “first order economic effects” as students around the world to protest corporate and government inaction against the growing threat of climate change.

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