Patagonia, a US outdoor company valued at 3 billion dollars, has been sold to a trust fund and a non-profit organization. The company will remain a privately owned for-profit company, but the profits (approximately $100 million) each year will be used to help fight climate change and protect nature.

The revolutionary decision of the owner family is in line with the pillars that have distinguished the brand since its foundation in 1973:

• environmental protection
  sustainability of production
  social responsability

“Instead of extracting value from nature and turning it into profits for investors, we will use the prosperity generated by Patagonia to protect the very source of all wealth,” writes 83-year-old founder Yvon Chouinard on the company website. “Our sole shareholder is now the planet”.

With this transaction, Chouinard has ensured that the company remains faithful to its path, which began more than 50 years ago, also in the near future, leading the world towards “a new form of capitalism”.