Who Owns Cotopaxi?

Davis Smith and Stephan Jacob founded Cotopaxi in Salt Lake City in 2014. Smith had grown up in Latin America, including years in Ecuador near the volcano that gave the company its name, and wanted to build a business that funded poverty alleviation. The pair committed one percent of revenue to poverty-focused grants before the company sold its first backpack.

The launch strategy was unusual. Rather than courting outdoor industry insiders, Cotopaxi built a direct-to-consumer brand around bright color-blocked designs, llama branding, and its Gear for Good mission. The Del Día collection, made from remnant fabrics that would otherwise be discarded, turned supply chain waste into a signature product where every pack is unique.

Growth was fast. Revenue passed $100 million in 2022, roughly double the prior year, and press estimates put 2023 revenue near $160 million. The company opened retail stores across the United States and in Japan, built a wholesale channel through outdoor and specialty retailers, and expanded from packs into full apparel lines including the best-selling Fuego insulated jacket.

Leadership changed in stages. Davis Smith transitioned from chief executive to chairman in mid-2023 ahead of a three-year missionary leadership role in Brazil. Damien Huang, a former Eddie Bauer chief executive who had joined as president, took over as CEO, then departed in September 2024. Lindsay Shumlas, previously chief executive of Vici and Manhattan Beachwear, was named chief executive in December 2024. Wendy Yang, former president of Hoka, was named executive chairwoman to support growth in direct sales and wholesale.

In 2025 the company refreshed its two flagship franchises, launching the Allpa 26 liter daypack and Allpa 50 liter adventure pack plus a fully revamped Fuego collection. Estimated annual sales reached approximately $150 million. As of late 2026 the company employs roughly 300 people and operates a dozen-plus retail stores in the US and Japan.