The Swedish shoe and clothing supplier Vagabond Shoemakers goes to a foundation.
After 30 years, founders Marie Nilsson Peterzén and Mats Nilsson are transferring their company to the newly founded Vagabond Shoemakers Foundation, the brand announced on Wednesday. The surplus from the business will be used to support charitable projects as well as research and educational purposes in the future.
“We have always wanted our achievements to become support for initiatives and projects that are needed in our time,” explained Nilsson. “A foundation means the opportunity to provide continuous and substantial support. It also means a lot to us that the company continues to develop in accordance with its set goals and objectives.”
The company has its own design studio, prototype production and sales in more than 50 countries. The brand only expanded to Asia last September.
Vagabond is not the first brand to leave its company to a foundation. Patagonia founder Yvon Chouinard also decided to take this step to support the fight against climate change.