'The vest gives off the Indiana Jones adventurer look for the man who doesn't have any adventures.'
Men’s Patagonia vests branded with the logos JP Morgan JPM, +0.12% and Goldman Sachs GS, -0.22% are currently fetching upwards of $200 on eBay EBAY, +1.44% That’s a significant premium on regularly priced men’s fleece vests and pullovers, which currently sell for between $99 and $139 on the sports and outdoor clothing retailer’s online store.
“Sweaterstogo,” the seller of a JP Morgan-branded Patagonia sweater listed the item last Monday for $199. “No sales yet, surprisingly,” the seller told MarketWatch. Another men’s Patagonia fleece zip-up jacket with the Goldman Sachs logo has an asking price of $199.99. And a Morgan Stanley-branded pull-over is selling for 150 British pounds .
— Binna Kim April 1, 2019 Branding experts say Patagonia and Wall Street are not a natural fit. “That is a challenge for so-called progressive brands,” said Chuck Welch, founder of Rupture Studio, a New York-based creative consultancy. “Being adopted by the wrong audience can do damage to your brand. Patagonia is about conscious capitalism, while the Street is about capitalism at all costs.”
Binna Kim, an executive with financial public relations firm Vested, first noticed the change in Patagonia’s ordering policy earlier this month: “News — @patagonia just told us they are no longer doing branded vests for financial services companies,” she tweeted TWTR, +15.62% “This is going to cause a #fintech crisis. Run for the hills.”
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