Sorry, Braden, Haden and Caden. No more "Midtown uniform" for you, bros.
Outdoor apparel company Patagonia has said it will no longer market merchandise to financial firms through its corporate sales program -- a potential threat to the popular menswear look dubbed the "Midtown uniform" by an anonymous Instagrammer with 114,000 followers.
Patagonia's co-branded fleece vests and jackets in particular have become a staple in the wardrobes of many New York City men who apparently work in finance and seem to travel in packs -- and have traded formal suit jackets for a more casual look as workplace dress codes become increasingly lax at banks and other financial firms.
Patagonia's shift in policy was first reported by Binna Kim, a public relations executive whose order for a client was rejected by a reseller of Patagonia apparel. She represents hedge funds, banking, fintech and wealth management firms, including Morgan Stanley, Citi and more.
"Patagonia has nothing against your client of the financial industry, it's just not an area they are currently marketing through our co-brand division," read a corporate statement she tweeted. "While they have co-branded here in the past, the brand is really focused right now on only co-branding with a small collection of like-minded and brand aligned areas; outdoor sports that are relevant to the gear we design, regenerative organic farming, and environmental activism," it continued.
The statement, which came not from Patagonia but from an unnamed retail partner, said the company's shift in focus is meant to align with Patagonia's new mission statement, "We're in business to save our home planet."
The privately held company is reluctant to market to companies it deems "ecologically damaging," including "religious group/churches, food groups, political affiliated companies/groups, financial institutions, and more," the statement said.
Patagonia confirmed to CBS MoneyWatch the change to its corporate program, saying the company "recently shifted the focus of this program to increase the number of Certified B Corporations, 1% For The Planet members and other mission-driven companies that prioritize the planet."
So-called B Corporations publicly commit to safe and responsible business practices that "benefit all," among other criteria. Patagonia earned the designation and is also among a group of businesses that donates the equivalent of 1 percent of its sales to environmental nonprofits.
But Blake, Drake, Jake and Lake need not fret. This shift does not affect customers who are already a part of its corporate sales program, Patagonia said in a statement. And there's always a shopping spree at the Patagonia store closest to Manhattan's Midtown neighborhood, a few subway stops downtown on 14th Street.
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