CAN DO GOOD AND BUSINESS RUN HAND IN HAND? A CASE PATAGONIA OWNERSHIP TRANSFERRED

Fifty years ago, when Yvon Chouinard have decided to pursue his own business, never once cross in his mind that he would become billionaire, neither he wished to become one. His idea was simply produced outdoor clothing and gear for his mountain climbing friends and himself. For that he established Patagonia. In Spring 2022, Yvon Chouinard delivered a very unique and surprising news. The founder of Patagonia decided to transfer the Not-for-Profit Organization. Yvon Chouinard donated his 3 billion US dollar company to the Holdfast Collective and the Patagonia Purpose Trust. It is done to ensure that the company will continue to effectively be committing his business to protect Earth. Why Patagonia pursue this move? Is it effective for the sustainability of the business to be running by the not-for-profit organization?