01
The founder
Yvon Chouinard
02
The bet
Treat the planet as the only shareholder, quality and restraint over growth for its own sake.
03
The inflection point
The 2011 'Don't Buy This Jacket' ad told customers to consume less, and sales climbed as trust deepened.
04
The lesson
A clear, costly signal of values is the most durable moat of all: it cannot be copied cheaply.