- This week, news broke that Patagonia will no longer make new partnerships with financial companies to produce branded fleece vests and other clothing.
- On Wednesday, Patagonia mocked Wall Street on Twitter, implying that companies will soon try to improve their social and environmental policies to regain access to the beloved vests.
- Patagonia fleece vests are a crucial part of bankers’ and other finance bros’ “Midtown Uniforms,” which is typically slacks, a dress shirt, and a fleece vest.
Patagonia isn’t satisfied with simply cutting hedge funds and banks off from their beloved fleece vests. Now, the American clothing retailer is trolling Wall Street on Twitter.
This week, news broke that Patagonia decided that it will require new companies that it works with on branded apparel to align with Patagonia’s values of being environmentally conscious and prioritizing the planet.
A spokesperson from Patagonia told Business Insider via email that the corporate sales program recently shifted its focus to work with “more mission-driven companies that prioritize the planet.”
Read more: The Midtown Uniform is now in peril as Patagonia isn’t accepting new finance clients for its ubiquitous fleece vests
Patagonia took to Twitter to mock Wall Street for the panic over the news. The tweet features a screenshot from “Silicon Valley,” a show that satirizes the tech industry, including investors’ well-documented obsession with Patagonia fleece vests
B Corporations are companies that meet certain standards of social and environmental accountability, and 1% For The Planet is an organization that encourages people and businesses to donate 1% of sales towards environmental causes. 1% For the Planet was cofounded by Patagonia’s founder, Yvon Chouinard.
Patagonia fleece vests branded with companies’ names have become a crucial part of the wardrobes of people who work in the finance industry. In New York City, these vests are part of the “Midtown Uniform” — typically slacks, a dress shirt, and a fleece vest.
Binna Kim, president of public relations company Vested, first reported the news on Monday after she reached out to a certified reseller of Patagonia apparel to purchase branded clothing for a client. The reseller told Kim that Patagonia is now reluctant to partner with companies that they view to be “ecologically damaging,” as well as religious groups, food groups, political-affiliated organizations, financial institutions, and more.
However, for financial services companies that have already penned a deal with Patagonia, there is a silver lining. The change of focus only impacts new customers, as existing clients would not be impacted, a Patagonia spokesperson said.
SEE ALSO: How the fleece vest became the unofficial uniform of Silicon Valley investors
Join the conversation about this story »
NOW WATCH: I tried to cook like a Benihana chef and it was harder than I expected