Davis Smith is the founder and CEO of Cotopaxi, an outdoor gear brand with a humanitarian mission. 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. This included someone in the familys ward serving a mission, a young couple traveling to America to be married in the temple and even Christmas gifts for children in orphanages. It was realizing that weve built something making a difference in the world. Cotopaxi's CEO Davis Smith started in this role in 2014. These people typically make $100 per year but Smith hopes to provide them with improved livelihood. Founded in 2014, Cotopaxi has followed through on its Gear for Good motto, doing business as a Certified B Corp while growing to some 300 employees and surpassing $100 million in revenues in 2022, doubling its 2021 sales volumes. I'm Davis Smith, the founder, and CEO of Cotopaxi, an outdoor and adventure gear brand with a humanitarian mission at its core. In the 1950s, 55 percent of the worlds population lived in extreme poverty. But last year, for the first time in the worlds history, less than 10 percent of the world lived in extreme poverty. He parlayed social media strategy and a cross-country college campus tour of the U.S. with two full-grown llamas in tow to promote The Questival, a one-of-a-kind experience that introduced would-be customers to his new brand. Davis Smith, Cotopaxi CEO and founder, poses for a photo in Salt Lake City on Monday, Dec. 5, 2016. By signing up for email newsletters, you agree to GearJunkie's, Davis Smith, Cotopaxi Founder and CEO; (photo/Cotopaxi), Click to share on Facebook (Opens in new window), Click to share on Twitter (Opens in new window), Click to email a link to a friend (Opens in new window). They source their materials from remnants of other outdoor gear so less finds its way into landfills. From that time, I knew I wanted to play a role in changing things for the better.. They are a certified B Corp touting sustainable supply chain management principles, climate neutral certified, and generously contribute revenues toward vetted grants targeting poverty to great impact. Enter your email to receive updates on our LDS Living content, 2022 LDS Living A Division of Deseret Book Company, New leaders for 129 missions have been announcedfind out who and where theyre serving, Gear for Good: How Cotopaxis founder got the idea for his one-of-a-kind business, Countdown to Conference: Daily quotes from last conference to prepare you for April 2023, There is room for my brown paper-doll family: 2 gospel truths I learned as a young girl that carry my faith, Questions Worth Exploring: A new speaker series from Deseret Book. Davis Smith 2:23 Its a commitment weve made as a brand doing good is intrinsic, inseparable, Jacob said. So Ive always felt a deep sense of duty and responsibility to find a way to use my life to help others. Among the newly called mission presidents for 2023 is President Davis M. Smith and his wife Asialene, who have been called to preside over the Brazil Recife North Mission. And it was just an amazing place to work. That Smith chose the outdoor gear and adventure apparel space to seed his pay-it-forward, Millennial-styled corporate philosophy makes perfect sense. Free Returns and Exchanges. It was immediately following their wedding in 2001 when Davis Smith and his wife, Asialene decided they needed an adventure. They knew what they were getting. United Nations Foundation Often when hes traveling and donning Cotopaxi gear, fellow members of the Cotopaxi club come up to him and mention how much they appreciate the brand and its mission, not knowing that hes the man behind the llama. This past year, Davis entrusted an expanded leadership team with taking the Cotopaxi brand to its next level, and I am honored to take an elevated role as part of that team., Other new Cotopaxi executives recruited over the past year include Grace Zuncic, the former chief people officer of Chobani, and Brad Hiranaga, the former chief brand officer of General Mills, to drive continued growth and accelerate the companys poverty-fighting mission.. 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. The global leadership community of extraordinary chief executives. Smith is the founder and former CEO of Cotopaxi, an international outdoor apparel company based in Utah. 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%). Together with his team, Smith has built the Do Good mission into everything Cotopaxi does. The parents of four are taking three of their children the oldest is in college with them to Brazil. Today, Smith leads 200 employees, and hes proud of the community he and his team have built. Smith, Jacob, and Whittaker launched Cotopaxi in April 2014 with $3 million in seed funding, five backpacks for sale, and a website. And we did get backing from exceptional investors.. They want to support companies that have ethics they can relate to., The next Patagonia started from a festival. Smith describes his familys time in Brazil as a lot of fun but he also knew that he had a mission to fulfill: He had to find a way to help people. While many startup founders want you to believe that they're . Employees work at Cotopaxi in Salt Lake City on Monday, Dec. 5, 2016. Davis holds an MBA from the Wharton School and an MA in International Studies from the University of Pennsylvania. The encounter helped illuminate Smiths path forward. Theyve been successful if someone leaves the store inspired. Founder & CEO. Prior to starting Cotopaxi, Davis was the Founder and Co-CEO of Baby.com.br and Dinda.com.br, Brazils Startup of the Year in 2012, which raised over $40M in venture capital. But the irreverence and jubilee embodied by the brand its. Over 4000 students and other supporters, particularly Millennials, participated in Cotopaxis first Questivalevent in 2014. "We are closing the store due to rampant organized. By 2025, all their products will be made using repurposed, recycled and responsible materials. After graduation, Smith moved with his wife and their two daughters to South America, a full-circle moment for him. Putting Cotopaxis Kusa llama insulated jacket to, the test rock climbing on location. Cotopaxi is a D2C company that handles all sorts of outdoor gear such as clothing, bags, and tumblers. Phone: 212.697.3315, United Nations Foundation He is a serial ecommerce entrepreneur, having started and . But when Smith read my recent article about. The employees in the retail store are called brand guides as Smith says, Their job is to inspire people. Eradicating poverty whether its in America or globally cant happen just through government and non profits, says Smith. Smith soon realized that if he left work by 6 p.m., he would get home in time to have dinner with his family, to help his kids with homework, read books to them and to have scripture study and prayer together. Is soft power the key to U.S. global leadership? We want to prove that businesses can do well and do good at the same time., Copyright 2023 Deseret News Publishing Company. Davis Smith grew up in developing countries around the globe. Luke Vernon Board Member Jan 2017. After describing his and his wifes decision to each, Smith received many positive responses. In addition, Asialene Smith remembered living in Brazil for three years while starting Cotopaxi. Cotopaxis Roca duffel bag. Huang joined the company in May 2022 from Eddie Bauer, where he had served as CEO. Courtesy, Cotopaxis Bengal waxed jacket. Davis Smith, CEO, Cotopaxi, speaks at the 2022 Concordia Annual Summit in New York in September. Smith plans to be a player in creating change in the world through the private sector, trusting in his belief that people want to support businesses that share their values and companies that are looking beyond their bottom line to make the world a better place. I certainly learned what we all know already, which is that there are great people all over the world, regardless of what faith they believe in or if they have a faith at all, Smith said. But we didnt make shirts or hats. We try and think differently about how we make our products. More structurally they put culture, passion, and giving back ahead of quarterly profits and annual investor reports, which has huge appeal to Millennial consumers who value the experience of participating in a product more than simply the fact of owning of it. Courtesy of Cotopaxi, Cotopaxis llama insulated Kusa hooded jacket, climbing on location. Executives of similar companies. He is a member of the United Nations Foundation's Global Leadership Council and a Presidential Leadership Scholar. Smith built Cotopaxi putting people first every step of the way, starting with the supply chain. Cotopaxi's CEO is highly regarded especially by employees with 3 to 6 Years experience, employees with Over . Davis Smith, center (between his sister and brother), with his father, Ole Smith, and siblings. In Brazil the workday is typically longer than the average workday in the United States, with many people working until 7 or 8 p.m. His family lived in Sao Paulo just 5 miles away from his office, but it wasnt safe enough to walk, and in rush hour his commute could take up to two hours. To understand the whole story, we must go back to Daviss roots. Brooke Harley Board Member Aug 2013. While hes quick to tell you it takes a village, founder and CEO Davis Smith is the man primarily behind the Cotopaxi phenomenon. The companys mission is written on the wall where every employee cansee. The round also included an investment from TOMS Social Entrepreneur Fund. 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. He still vividly remembers local children his age standing naked on the side of the road malnourished, begging for food. We have built our entire business, brand, and culture around serving others. Asialene Smith reflected on what has prepared her for this next adventure. The CEO deliberately placed it so everybody would continually revisit the mission. 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. I was going to leave by 6 p.m. And I remember one of our investors kind of challenging us and saying, Why are you leaving? You may also like: New leaders for 129 missions have been announcedfind out who and where theyre serving. The grants focus on health care, education and livelihood training in the poorest communities in the Americas, predominantly Latin America. Where comfort and health go hand in hand. Cecilia Chao Board Member Sep 2021. He also holds a BA in International Studies from Brigham Young University. The products Cotopaxi sells have a warranty of 61 years. In a heartfelt post on LinkedIn, Smith shared the news along with his personal testimony of the life-changing impact of missionary work and photos of his own missionary service as a young man in Bolivia. 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. In addition to a $3 million in initial seed capital, Cotopaxi has closed an additional $10.5 million including an investment from Campfire Capital, which is a new venture fund established by 35 current and former Lululemon executives, including the former CEO and CFO. , Abdul Latif Jameel Poverty Action Lab (J-Pal). Davis Smith is the CEO of Cotopaxi, an adventure brand with a humanitarian mission. The move was risky, and Smith and his partners were advised to avoid it as a first step because it would likely scare off investors. The text gives an account of ancient prophets who lived in the Americas. Smith and his wife, Asialene, will be serving as mission president and companion in the Brazil Recife North mission. Among the newly called mission presidents for 2023 is President Davis M. Smith and his wife Asialene, who have been called to preside over the Brazil Recife North Mission. The workers are entrusted to choose the colors for the backpacks. Go help those who will never become customers, those you can never benefit from.. Davis Smith received solid advice from some business school classmates during his days at Wharton: You only get one chance to launch. He is the founder and CEO of Cotopaxi, a highly popular, carbon-neutral outdoor gear brand founded to. 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. 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. I cover luxury real estate, travel, hospitality, and entrepreneurs, Cotopaxi co-founders Stephan Jacob (left, Davis, Smith (center), and CJ Whittaker (right). Theyve sold their goods in Japan before through a wholesaler, so hopes are high for a shop opening in Japan someday. What state lawmakers are doing to address Utahs housing crisis, Department of Labor reports that child labor has increased by nearly 70% since 2018, Feds hardwire child care benefits to $39 billion in CHIPS Act funding. I wanted to impress social contribution to the people who could relate with my vision through experience, instead of just by selling products. Andrus is an investor in Rags, a onesie maker started by Rachel Nilsson, a Mormon former stay-at-home mom; Owlet, a "smart sock" baby monitor company that has raised more than $57 million and was founded by five BYU grads who are now dads; and Cotopaxi, a Salt Lake City-based outdoor brand founded in 2014 by Davis Smith, who grew up in . Ive never forgotten that image, Smith tells me.