“More than ten years ago, in 2014, both Stephan [Jacob] and [co-founder] Davis [Smith] set forth the mission to fight extreme poverty through building and developing sustainably designed outdoor products,” says Cotopaxi’s new CEO, Lindsay Shumlas.
To inspire joyful, colorful, high-performance adventures is why Cotopaxi was founded as a benefit corporation (B Company). And joy, color, and performance remain mainstays of the company’s strategies and executions, according to its new leadership.
But that’s not to say the Salt Lake City-based Cotopaxi isn’t completely committed to building a broader movement beyond a mere adventurous outdoor gear, apparel, and lifestyle brand. Because adventure – like the new adventure Shumlas has undertaken since becoming CEO four months ago – “inspires us to see the world—and make it better.”
According to Shumlas, the “better” part must remain collaborative: It necessarily happens best in partnership with communities around the world.
Striving to break the back of poverty
In fact, since its origin, the company’s focus has been on empowering communities, whose efforts take the form of improving economic conditions for local residents, mainly in Latin America and the US. Through Cotopaxi’s “Gear For Good Promise,” the company’s sales help fight poverty and spark generational wealth-building cycles. The company, it says, sells “gear that fuels both outdoor experiences and global change.”
How? The company earmarks at least 1 percent of its annual net revenue for its Cotopaxi Foundation, which supports philanthropic grants from well-vetted, efficacious nonprofits that help reduce “extreme poverty near and far. And we’ll continue to do that,” Shumlas vows. “We’re not resting on our laurels. We’re committed to it.”
Whether through bettering local and regional health care, education, or overall livelihoods, “giving is core to who we are,” says Shumlas. To date, Cotopaxi’s impact has directly assisted more than 4.5 million people to the tune of more than $4 million. In addition to its 1 percent commitment, the foundation also welcomes direct donations, 100 percent of which directly support its grantees and impact programs.
The foundation has helped hundreds of thousands of impoverished people with multi-year grants for lasting impact. For example, it’s provided malaria interventions, assistance after natural disasters, and educational and arts programs in 10+ countries.
That’s why “‘Gear For Good’ has become one of our leading taglines,” says Shumlas. “We see it as a call to action for responsible and impact-driven travel adventure. We as a brand are seeking to ensure that, whether it’s abroad or it’s right in your own backyard. We continue to push forward to protect and give back to those who make up the colorful tapestry of our community.”
So, both fighting economic inequality and embracing diversity are twin components of Cotopaxi’s definition of ethical and sustainable operations, according to Shumlas—and both are key ways it stays accountable to all of its stakeholders.
Defending diversity in an era of pushback
Says Shumlas, “We were founded on the principles of strong culture and inclusivity. Those values will continue to guide us. I’m steadfast about that. I’m committed to building a high-performing team and culture and retaining top talent from the broadest talent pools possible.”
“I also believe that as a brand, [we’re becoming] a more and more inclusive organization. It better represents our customers and our brand stakeholders. And I also believe it will lead to better performance in terms of our impact, our product innovation, and overall growth, where growth equals doing more good.”
For example, Shumlas told Outside Magazine for a recent article celebrating Women’s History Month, “Research consistently shows that companies with women in leadership tend to perform better because we bring unique perspectives that foster innovation, strengthen decision-making, and promote a culture of responsibility and excellence.”
That’s good, considering Cotopaxi shook up its leadership team, promoting Shumlas to CEO in winter 2024 and appointing board member Wendy Yang as executive chairwoman. Shumlas had begun at Cotopaxi just nine months earlier in April 2024 as President and CFO.
Since then, Shumlas has continuously worked to improve “how much I can bring our teams together, and [how much that opens] doors. That is something that I am very actively focused on because I believe that’s how we can make a bigger impact. When we are able to get to know each other, learn more about each other, engage person-to-person, and continue to make the great impact that this brand has made. I believe in it personally, I believe in it professionally.
“And I think it just takes each of us individually to continue to make an impact,” Shumlas insists. “That’s why I try to do as much with my team in person or outdoors in the environment that we’re here to serve.”
The environment we’re here to serve
From the beginning – it was named after a pair of llama mascots, Coto and Paxi – the company’s been environmentally sound. “We approach sustainability holistically,” Shumlas says. “Because our biggest impacts occur within our supply chain, we work with factories that prioritize sustainability and treat workers right. We also choose recycled, leftover deadstock, and other sustainably-minded materials for more than 96 percent of our products.”
In fact, when this column first covered Cotopaxi in 2021, it was on its way to meeting a goal it set in 2017 to operate with 100 percent recycled, repurposed, or certified responsible materials by 2025. “It’s 2025 now,” says Shumlas. “And we made that goal.” One cool stat that contributes to that fact; by 2024, the company had saved from landfills more than 2.5 million yards of excess fabric (deadstock).
Color in the sea of sameness
“As I often say, I try to always stay focused on who we are as a brand, the authenticity of the brand,” says Shulmas. To do that, she often considers how Cotopaxi can provide a better model for the industry. How to better innovate to meet the challenges of the day. How to “continue to carry forward the culture and empower and mentor teams. All of that threads all the way through.”
“But you just can’t forget about the customer with everything else that’s happening right now. And I think at times that can happen in business. With regulations and macro-challenges and everything that’s happening right now as a leader, you should never lose sight of the customer. [The customer is] the real North Star; we need to stay connected to what our consumers value most.”
One of those values is innovation, difference, “color,” claims Shumlas.
“We’ve always been about reinventing the outdoor space,” she says. “We’ve been different in terms of how disruptive and bold and colorful we’ve been. And I truly believe that continuing to build on that North Star is really important. I say often, there’s a sea of sameness out there, but customers are looking for versatility. And I will continue to lead there.”
“Authenticity as a leader is extremely important and I will continue to support that and stay true to who we are.”