Cotopaxi

What does Cotopaxi own?
Cotopaxi owns a single brand of the same name. All of its packs, bags, jackets, and clothing are designed and sold under the Cotopaxi label, and it operates no subsidiary brands.

Is Cotopaxi publicly traded?
No. Cotopaxi is a private company funded by founders and venture investors. An early 2025 funding round valued it at approximately $366 million, but no public shares exist.

Who founded Cotopaxi?
Davis Smith and Stephan Jacob founded Cotopaxi in Salt Lake City in 2014. Smith, who spent part of his childhood in Ecuador, remains chairman. Jacob serves as chief global and business development officer.

Where is Cotopaxi headquartered?
Cotopaxi is headquartered in Salt Lake City, Utah, USA. The company also operates retail stores across the United States and in Japan.

How many brands does Cotopaxi own?
One. The company operates only the Cotopaxi brand, with product collections such as Allpa, Del Día, and Fuego managed as lines within it.

Who owns Cotopaxi?
Cotopaxi is owned by its founders, employees, and venture capital investors. No single party controls it outright. Lindsay Shumlas has served as chief executive since December 2024, and Wendy Yang is executive chairwoman.

Is Cotopaxi a B Corp?
Yes. Cotopaxi is a certified B Corporation, verified through B Lab's independent assessment, and is legally incorporated as a public benefit corporation. It also participates in the Fair Trade Certified program and gives between one and three percent of annual revenue to poverty alleviation through the Cotopaxi Foundation.

Davis Smith conceived Cotopaxi out of a childhood spent in Latin America, including years in Ecuador near the volcano the company is named after. After earlier e-commerce ventures and an MBA at Wharton, where he met co-founder Stephan Jacob, he set out to build a company that would make giving part of the revenue model rather than a layer added after profitability.

The company incorporated in 2013 and launched publicly in April 2014 with seed funding assembled after more than 100 investor rejections. Legal advisers warned against the benefit corporation structure, arguing it would scare off investors. The founders did it anyway, making Cotopaxi one of the first US companies to incorporate as a benefit corporation and then raise venture capital.

Early growth came from a distinctive look. Where outdoor rivals used muted palettes, Cotopaxi sold saturated color blocking and llama branding. The Del Día line, sewn from remnant fabric left over from other products, made every pack one of a kind and gave the company a signature story about waste.

Revenue passed $100 million in 2022, roughly double the year before. Retail stores opened across the US and in Japan. In 2023, Davis Smith stepped back from the chief executive role to take a three-year missionary leadership post in Brazil, handing leadership to president Damien Huang. Huang departed in September 2024, and Lindsay Shumlas, who had joined as president and chief financial officer that April, became chief executive in December 2024. Former Hoka president Wendy Yang joined as executive chairwoman.

The company refreshed its flagship Allpa and Fuego lines in 2025 and reported a valuation of approximately $366 million in an early-year funding round. Estimated sales reached about $150 million for 2025. Leadership described 2026 plans to enter a new travel category.

Cotopaxi holds certified B Corporation status, verified through B Lab's independent assessment, and is incorporated as a public benefit corporation. These are third-party and legal verifications, not self-declared marketing.

The company participates in the Fair Trade Certified program for portions of its production and uses recycled and remnant materials extensively. The Del Día line is built entirely from remnant fabrics that would otherwise be discarded.

Through the Cotopaxi Foundation, the company awards between one and three percent of annual revenue to vetted poverty alleviation nonprofits, with published impact reporting. It is a UN Global Compact signatory and runs worker welfare programs at supplier factories, including education support and community gardens documented in its impact reports.

Cotopaxi has faced no significant regulatory action, litigation, or recalls as of November 2026.

Press coverage of leadership turnover since 2023 has noted the challenges of transitioning a founder-led mission company to professional management, and industry observers watch whether rapid retail expansion pressures the company's margins and culture. No verified controversies are on record.