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How Will Patagonia’s $10M Trump Tax Cut Donation Influence Other Brands? Experts Weigh in

Patagonia CEO Rose Marcario said the $10 million the company saved from President Donald Trump’s corporate tax cut is going to eco-friendly groups. And industry experts expect other firms to follow.
“I don’t know that they’ll be as overt as Patagonia, but I think we’ll see the industry step up and take stronger positions on sustainability and other social issues,” The NPD Group Inc.’s senior sports industry advisor Matt Powell said. “I urge all companies to take a visible stand on social issues, specifically around sustainability. Patagonia continues to show leadership and I would expect we’ll see other outdoor brands respond in kind.”
And FDRA CEO Matt Priest agrees.
“You see in other spaces where a Nike or an Adidas puts forward an initiative that drives change, it brings along the rest of the industry,” Priest said. “It always helps when you have someone take the lead. Whether or not other companies are progressive enough to follow suit remains to be seen.”
Starting this year, the corporate income tax rate dropped from 35 percent to 21 percent, a move Marcario referred to in a LinkedIn post yesterday as “irresponsible.” Despite her feelings about the reduction, the executive said Patagonia saved $10 million.
But that money, Marcario stated, won’t be

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Via:: https://footwearnews.com/2018/business/retail/patagonia-10-million-trump-tax-cut-donation-brands-1202712055/