By Akane Otani WSJ Mon., April 8, 2019 Wall Street faces a crisis that touches the very core of its largely male workforce. In a panic-inducing announcement, Patagonia set new limits on the sale of its custom fleece and down vests, a de rigueur centerpiece of the modern three-piece suit. On weekdays, foot soldiers in New York City’s business-and-finance army parade through Manhattan wearing Patagonia vests embroidered with such names as JPMorgan Chase, Nomura and BMO Capital. Like a pair of $1,500 John Lobb oxfords, these co-branded power vests can intimidate and draw envy. To the dismay of those yearning to be swaddled in one, Patagonia said last week it was keeping new orders of the torso-hugging showpieces reserved for “mission-driven companies that prioritize the planet.” Off the bat, that excludes oil companies, mine operators and other outfits deemed ecologically damaging, one certified Patagonia seller said. The company said the decision wasn’t meant to leave any “bros out in the cold.” Article Continued Below Hedge funds, private-equity firms, banks and startups seeking permission to start ordering the employee perquisite must persuade Patagonia they are helping turn America green—and not just by making money. The policy applies only to firms that… Read full this story
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