As the coronavirus pandemic rages on, global economies continue to sink as unemployment and decreasing consumer good demand pose serious long term threats. Developing nations are particularly vulnerable as they lack the required infrastructure to bail local enterprises.
When asked to name a company dedicated to corporate social responsibility, almost everyone will immediately mention Patagonia. Patagonia, an upscale apparel retailer, for years was viewed as an anomaly by both investors and industry experts. The company preaches against consumerism with their “Don’t Buy This Jacket” campaign, where they actively exposed the environmental harm of one of their products. A company that discourages people from shopping could not possibly be successful in the long run. However, over the past decade, Patagonia has defied all odds by quadrupling in profit and reaching a valuation of $1 billion dollars.