Davis Smith as a young missionary serving in Bolivia from 1997-1999. They care deeply about looking out for the vulnerable among us and in the responsibility that businesses have to their communities, Smith says. The participation fee is just 40 dollars. Davis Smith grew up in developing countries around the globe. He attributes a great deal to his parents, saying they shaped his life. Courtesy of Cotopaxi, Cotopaxi builds brand loyalty by telling stories, through its globe-trotting brand ambassadors as well as through its own corporate giving back efforts. Growing up in Latin America on vacation we floated down the Amazon, climbed into volcanoes, and survived on spearfishing while camping on remote islands. He is a member of the United Nations Foundation's Global Leadership Council and a Presidential Leadership Scholar. All Rights Reserved, Cotopaxi founder/CEO Davis Smith stepping down to serve Brazil mission, Utahs Cotopaxi doing good business by doing good, Utahs Cotopaxi finding ways to survive, help its community thrive amid COVID-19, Utahs Gear for Good company Cotopaxi launches charitable foundation, Hold on to your brookies, Utahs new Trader Joes is now open. The brand creates innovative products and experiences that fund sustainable poverty alleviation. Ive really understood my why since I was a child, he says. Most of the early adopting participants remain loyal Cotopaxi evangelistsand continue to organize community events with Cotopaxis support every year including donating mosquito nets, working with food banks, and environmental preservation efforts. Smith said he expects Cotopaxi to grow from 180 employees at the end of 2021 to 300 by the end of 2022, and potentially to well over 1,000 "in the next handful of years." Smiths vision attracted investors predominantly female investors hes quick to point out but despite the capital raised, growth didnt happen as quickly as he would have liked. Adam Ruggiero is the Editor in Chief of GearJunkie and host of the GearJunkie Podcast. All rights reserved. Together with his team, Smith has built the Do Good mission into everything Cotopaxi does. Along with his service as a young missionary in the late 90s, Smith also grew up in Brazil where he first the inequalities of poverty and opportunity and knew he wanted to do something to change that. It was also about sacrifice.. Founded in 2013 by Davis Smith. Enjoy every natural adventure from rock climbing to garbage picking. Hes a passionate social entrepreneur and adventurer. Phone: 202.887.9040 Regardless, he and his wife look forward to serving in a new capacity. After sleepless nights wrestling with how he could best create a career helping others, the idea for Cotopaxi coalesced. Muley Freaks Erik Van Woerkom Charged With Felony Possession of Trophy Mule Deer, The Biggest Improvement to My Camp Kitchen Is a Mini Pizza Oven (But Not for Pizza), Get Up to 60% Off at REIs End of Season Clearance Sale, VanDOit Moov Builds on Adventure-Ready Ford Transit Trail, 8 Top Tips for New Adventure Motorcyclists From Riding Instructor Bret Tkacs. With its motto Gear for Good, its good corporate citizenship has helped roughly 3.5 million individuals living in extreme poverty, according to Deseret News. To do this, he looked for something in his roots from Latin America and chose two llamas that are native to the area, to take on his tour around universities in Utah, where he talked to the students about his vision. Whatever your cause its expected these days that you give back as a business. SALT LAKE CITY, Jan. 6, 2023 /PRNewswire/ -- Certified B Corporation and impact-driven adventure brand, Cotopaxi, is announcing that their CEO & Founder, Davis Smith, will be transitioning. Annie once worked with NPOs at IDEO, a world-renowned design consulting firm. Your product has to tell a story that resonates . Jack Stauss, brand guide, right, and Casey Yardley, operations assistant, move donated books to a van at Cotopaxi in Salt Lake City on Monday, Dec. 5, 2016. He also holds a BA in International Studies from Brigham Young University. Llama fleece is hollow, making it lightweight, self-insulating and hypoallergenic. But perhaps the biggest way they have impact is through the Cotopaxi Foundation, the companys investment arm, where they distribute a minimum of 1% of their revenue through multi-year grants (during the last two years theyve given 2% and 3% of revenues, well above their committed 1%). Go help those who will never become customers, those you can never benefit from.. Today for most businesses their largest market is Millennials who value experiences more than things. Davis Smith, Cotopaxi CEO and founder, is interviewed in Salt Lake City on Monday, Dec. 5, 2016. Cotopaxi is called the next Patagonia by many, but theres quite a unique story behind its foundation.Now, our main business is to sell outdoors products, but thats not how we got started, says Davis. Theyve sold their goods in Japan before through a wholesaler, so hopes are high for a shop opening in Japan someday. Previously, Davis was the Founder at Pool Tables a nd also held positions at BB Box Comrcio Varejista de Artigos Infantis, BilliardEx, The Founders Club. Cotopaxi says its good corporate citizenship has aided an estimated 3.5 million individuals who live in extreme poverty. The teams score each other on such categories, and the team with the highest points wins. Cotopaxis backpacks are known for their colorful and vivid designs rather than being simple and refined. In this episode, Davis reveals what goes into making Cotopaxi's hip AND sustainable bags, discusses the company's core values and talks about how a kid named Edgar shaped his desire to help the world. Courtesy of Cotopaxi, Cotopaxis Nepal backpack. The global leadership community of extraordinary chief executives. They also work closely with The International Rescue Committee (IRC) to support refugees in Salt Lake City, Seattle and Denver. It was a bigger hit than Id imagined. The businesss founders, Davis and Asialene Smith, have answered the call to be mission leaders for The Church of Jesus Christ of Latter-day Saints in the Brazil Recife North Mission for the next three years. Cotopaxi's CEO Davis Smith started in this role in 2014. Cotopaxi founder and CEO Davis Smith is stepping down as head of the Utah-based outdoor gear company to return to Brazil, the place where he grew up and where the first seeds of the idea that would become Cotopaxi were sown. Davis understands how difficult it is to have both business results and social contributions. My co-founders and I ultimately realized (three years ago) that there was a need for a digitally native brand in the outdoor space that told a story, could connect with what Millennials wanted, and make technologically advanced gear and apparel that made a difference.. Davis Smith, the entrepreneur best known for the Salt Lake City based outdoor apparel company Cotopaxi, is buying back his first startup, PoolTables.com. His company Cotopaxi has certainly achieved that. And its absolutely true. It is the fulfillment of Smith's desire to help people, a desire that began when he was a little boy. We try and think differently about how we make our products. This entire ecosystem herethe communityis passionate about the outdoors, and Utah is the most generous state in the nation, donating time and money. Davis Smith is the founder and CEO of Cotopaxi, a Benefit Corporation and an outdoor gear company with a humanitarian mission at its core. There are now 215 Academy chapters worldwide. With its roots planted in Salt Lake City, Smith began once again to build Cotopaxi, his new business. Davis Smith is the founder and CEO of Cotopaxi, a Benefit Corporation and an outdoor gear company with a humanitarian mission at its core. However, we both want to make the world a better place. Davis Smith, Cotopaxi CEO and founder, poses for a photo in Salt Lake City on Monday, Dec. 5, 2016. Courtesy of Cotopaxi, Cotopaxis llama insulated Kusa hooded jacket, climbing on location. You dont need to be a nonprofit, but the purpose of your existence doesnt solely have to be to make money. Smith got a lot of nos when he initially went out for funding. Founder Davis Smith took to LinkedIn to break the news that Cotopaxi's Hayes Street store would close on Tuesday. Cotopaxi partners closely with local communities to preserve the tradition of llama farming and create pathways to market for rural smallholder farmers who would otherwise make less than$100 a year (yes thats a year). Church News podcast, episode 122: Cotopaxi founders Davis and Asialene Smith on stepping away from their company to serve as mission leaders in Brazil. The company is very serious about its desire to make a difference in the world. That there are still places in the world where there are no safety nets at all. We want to prove that businesses can do well and do good at the same time., Copyright 2023 Deseret News Publishing Company. Davis Smith, CEO, Cotopaxi, speaks at the 2022 Concordia Annual Summit in New York in September. Theyve been successful if someone leaves the store inspired. Thats something I hadnt really done with my first businesses, he says. Asialene Smith reflected on what has prepared her for this next adventure. He said upon deciding to leave the company behind, he called the 15 individuals on his board and executive team to tell them. While hes quick to tell you it takes a village, founder and CEO Davis Smith is the man primarily behind the Cotopaxi phenomenon. But the discussion wasnt focused on cool and functional outdoor gear, it was all about what the company would stand for. Davis Smith (@davismsmith) Instagram photos and videos davismsmith Follow 637 posts 4,514 followers 1,073 following Davis Smith CEO of Cotopaxi, UN Foundation Global Leadership Council, adventurer (70+ countries), humanitarian, and father. Davis Smith, Cotopaxi CEO and founder, poses for a photo in Salt Lake City on Monday, Dec. 5, 2016. He eventually moved his family to Brazil where he started two businesses, Baby.com.br, which was named Brazils Startup of the Year in 2012, and Dinda.com. But they didnt start selling outdoor gear right away. The CEO deliberately placed it so everybody would continually revisit the mission. Davis Smith. Trying to convince them to just go buy more stuff was not going to work. Davis created Cotopaxi-a brand committed to making capitalism better-a decade ago. The text gives an account of ancient prophets who lived in the Americas. We have built our entire business, brand, and culture around serving others. It was confirmation to me that when you stand behind your values, and you choose whats right, there is oftentimes great benefit that comes from that.. For Cotopaxi, the factories arent just subcontractors. When Smith pitched himself as a great addition to Gibsons nonprofit staff, Gibson had different advice for him: Become an entrepreneur and create his own impact. Annie joined Cotopaxi in the spring of 2018. Dan Wenhold Board Member 2018. In the same 2018 story, Jacob said there have been easier, cheaper directions to take at nearly every juncture of building Cotopaxis products and market reach, but the company has stuck to the harder path which, as it turns out, may also prove to be the most sustainable and successful option. John Currie Board Member Nov 2017. In 2004, Davis founded, and later sold, PoolTables.com, Americas largest pool table retailer. Smith grew up a natural entrepreneur. The Smith family returned to the United States and Smith began contacting connections he had made previously in the Silicon Valley to form his new business. Working only with fair trade factories is more expensive, and in addition to that higher cost, Cotopaxi adds allotments for the workers to use toward something they need, from community gardens to computers and computer classes for them and their families. Davis Smith, founder and CEO of Cotopaxi. We stand behind our products, which is one of the reasons we've received more than 20,000+ 5-star reviews. This idea of giving back goes much deeper than this, though. While the companies were successful, he still had not zeroed in on that elusive combination of business and altruism. This young generation shares a lot of our values. Davis Smith is the founder and CEO of Cotopaxi, an outdoor gear brand with a humanitarian mission. Guaranteed for Good. So I started an event where people could experience nature, says Davis. Last year, there were 38 Questivals. Courtesy of Cotopaxi, Today for most businesses their largest market is Millennials who value experiences more than things. Eradicating poverty whether its in America or globally cant happen just through government and non profits, says Smith. Its a message hoping that people will embrace Cotopaxis credo from birth until death. With Cotopaxi specifically Smith set out to re-imagine with what he characterizes now as product, design, supply chain philanthropy as well as structural corporate socialimpact. You may also like: Gear for Good: How Cotopaxis founder got the idea for his one-of-a-kind business, While this move may not make sense financially or professionally, it is perfectly aligned with our familys values, Smith wrote. But when Smith read my recent article about. While many startup founders want you to believe that they're . The couples new calling does not only affect relationships at Cotopaxi. The youngest has even begun learning Portuguese words. In 2014, he launched Cotopaxi, an outdoor gear company with two fluffy llamas as mascots and an expressed mission to do good in the world. According to the BYU Marriott School website, Gibsons school has helped more than 10,000 returned missionaries in the Philippines, Mexico, Indonesia, Bolivia, Brazil and Peru, among others. And I just made the decision that that was when I was going to leave, Smith said. But in keeping with a penchant for doing it differently, they moved ahead anyway. Their corporate mission is to alleviate global poverty, and they donate a portion of their revenue to NPOs and educational organizations while also teaming up with fair trade certified organizations to improve the living standards of their factory workers. All rights reserved. The award focuses on YPO members making impact outside the organization that is both sustainable and scalable, affecting people, prosperity, peace or our planet. This new speaker series from Deseret Book will feature inspired and thoughtful discussion from trusted voices like Sheri Dew, Jenny Reeder, Patrick Mason, Reyna Aburto, Adam Miller, and Steve Young. I was just lucky to have been born into a situation that provided me with opportunities that others didnt have. We werent selling any merchandise yet, but the participants painted the Cotopaxi logo onto their own bags, hats, and clothing to make original Cotopaxi goods. SALT LAKE CITY, Utah ( ABC4) Cotopaxi founder and CEO Davis Smith is stepping down as CEO and appointing former Eddie Bauer CEO Damien Huang in his place, according to a press release. They only did it for the brand image. The history of the Mormons has shaped them into a people with a strong sense of unity and commonality. This was poverty at the most desperate level. I dont think even I wouldve gone that far. Cotopaxi reports the entire executive leadership team, including Stephan Jacob, Cotpaxi co-founder and chief operating officer, will remain in place under Huangs leadership. Legacy outdoor brands like Patagonia and L.L. Davis Smith, a BYU grad and founder of the outdoor gear company Cotopaxi, will be stepping down from his role as CEO to serve as a mission president for The Church of Jesus Christ of Latter-day Saints beginning in July. Cotopaxi , an e-commerce startup that also emphasizes making the world a better place, has raised $6.5 million in Series A funding.