Patagonia Corporate Branded Vests Are Selling for Big Money Online
When Patagonia announced earlier this month that it would cease selling certain co-branded vests, the brand unintentionally created a major second-hand surge in the marketplace. The company said it will no longer provide corporate apparel to certain financial companies (in addition to an already lengthy list of companies in other sectors), but now that those vests are hot commodities, they're selling like hot cakes over on eBay.
According to MarketWatch, Patagonia jackets and vests that feature the JP Morgan and Goldman Sachs logos are popping up on eBay at price points upwards of $200. Ordinarily, the fleece apparel sells for between $99 and $139.
So far, the $200 Goldman Sachs fleece full-zip jacket is still available on eBay, but we wouldn't be surprised if someone snatched up this soon-to-be extinct look.
We don't have to tell you that exclusive, rare merchandise tends to drive sales. Consumers are always willing to pay a premium for limited-edition apparel, but that was clearly not Patagonia's intention (seeing as they won't make a dollar from these sales).
Patagonia certainly alienated a lot of potential business when it said it wouldn't take on any more large finance companies as corporate apparel clients. The Patagonia fleece vest is a signature look for a lot of these employee "uniforms," so it was an unexpected move. However, as Patagonia continues to realign its business strategy to match its core values, it might level out as it accrues new business opportunities. Only time will tell.