Vagabond Shoemakers Follows Patagonia’s Lead, Gifts Company to Foundation

Swedish footwear brand Vagabond Shoemakers, owned by Marie Nilsson Peterzén and Mats Nilsson, is mirroring the approach of Patagonia by donating the company to the newly established Vagabond Shoemakers Foundation. The objective is to contribute to charitable projects over the long term.

According to a press release from Vagabond, the brand’s ownership will now be held by the Vagabond Shoemakers Foundation. Consequently, all profits generated by the company will be directed toward research, education, and charitable initiatives aligned with the foundation’s values.

In 2023, Vagabond achieved a consumer value of 1.5 billion Swedish kronor (approximately £115.2 million) and has a global presence in over 50 countries. The brand operates its own design studio.

The decision to establish a foundation for future ownership was described by Peterzén as a “simple choice.” She stated in the press release, “We have always wanted our successes to support initiatives and projects that are needed in our time. A foundation means the ability to provide continuous and substantial support. It also means a lot to us that the company continues to develop in line with the goals and intentions we have set.”

Following a similar path to Patagonia’s founder, who donated the company to two charities in 2022, Vagabond aims to utilize its profits to address significant issues, emphasizing the foundation’s commitment to making a meaningful and sustained impact.