Editor’s Note
Hello,
This week’s brand, Cotopaxi, is a growth rocket within the outdoor apparel industry, going from zero to $200 million dollars in revenue in less than ten years. Their apparel, which is made out of scrap materials, has taken the world by storm.
Last year they launched their resale program Más Vida (meaning more life in Spanish) with the same Guaranteed For Good policy as for their new products. Their customers can trade in used apparel and gear for a digital gift certificate.
There is a lot to learn from Cotopaxi, from how ambitious their mission is to how they have successfully combined people, planet, and profit into a sustainable business model with stores and customers all across the world.
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Table of Contents
Cotopaxi’s Story
The story of Cotopaxi began in 2013 when Davis Smith, a young entrepreneur with a passion for outdoor adventure and social impact, was inspired by a trip to Nepal. During his time there, he was struck by the beauty of the country and the resilience of its people, who were still rebuilding their lives following a devastating earthquake.
Smith was also deeply moved by the stark contrast between the wealth and privilege he enjoyed as an American and the extreme poverty he witnessed in Nepal. He began to question how he could use his skills and resources to make a positive impact on the world.
Upon returning home to Utah, Smith began to develop a business plan for a company that would combine his love of the outdoors with his desire to make a difference. He envisioned a brand that would sell high-quality outdoor gear and apparel, while also donating a portion of its profits to social impact causes.
Smith named his company Cotopaxi, after the Cotopaxi volcano in Ecuador, which had been a source of inspiration for him throughout his life. He also chose a llama as the company's mascot, as llamas are a symbol of strength, resilience, and community in the Andes Mountains.
Cotopaxi officially launched in 2014 with a small line of jackets, fleece, and hats. The company quickly gained a following among outdoor enthusiasts who were drawn to its high-quality products, unique designs, and commitment to social responsibility.
In the years since its launch, Cotopaxi has grown into a successful business with a strong social impact. The company has donated over $20 million to a variety of causes, including disaster relief, education, and economic development. Cotopaxi has also been recognized for its commitment to sustainability, using recycled materials and partnering with factories that treat their workers fairly.
Today, Cotopaxi is a leading outdoor brand that is committed to making a positive impact on the world. The company's products are sold in over 500 stores worldwide, and its social impact programs have helped to improve the lives of thousands of people in need.
Key Milestones
2014 – Cotopaxi is founded with the mission of making a positive impact on people and planet, and launches its first product line, including jackets, fleece, and hats. The American Red Cross becomes their first social impact partner and they provide relief to Nepal following a devastating earthquake.
2015 – Expands its product line to include bags, accessories, and footwear, and opens its first retail store in Salt Lake City, Utah. They also launch its first international partnership with a non-profit organization in Haiti.
2016 – Named one of the "25 Best Companies to Work For" by Outside magazine, and joins the 1% for the Planet movement. For the holidays they launch their first-ever charity campaign, raising over $1 million for charity.
2017 – Expands its retail presence to over 500 stores nationwide, collaborates with The North Face, and named one of the "Best Places to Work" by Glassdoor.
2018 – Opens its first flagship store in San Francisco, California, launches its first-ever footwear line, and named one of the "Most Innovative Companies" by Fast Company.
2019 – Reaches $100 million in annual sales, launches its first-ever home goods line, and named one of the "Most Ethical Companies" by Ethisphere.
2020 – Responds to the COVID-19 pandemic by donating over $1 million in relief funds and supplies. Launches its first-ever virtual summit, bringing together over 1,000 people from around the world to connect and learn about social impact. Named one of the "Best Companies for Women to Work For" by Working Mother magazine.
2022 – Expands its international presence to over 10 countries, launches its first-ever apparel line for kids, and named one of the "Most Sustainable Companies" by Newsweek magazine.
2023 – Reaches $200 million in annual sales, opens its first-ever retail store in New York City, and named one of the "Most Charitable Companies" by Chronicle of Philanthropy. Launches their resale program Más Vida.
Insights and Actions
Cotopaxi is a Certified B Corporation that is committed to sustainability in all aspects of its business. The company's sustainability strategy is focused on three key areas:
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