In big news for the outdoor industry, founder Nick Brown has retired and stepped down as the owner of both brands, handing over control and ownership to his employees across three continents.
In keeping with the Nikwax and Páramo legacies of sustainability and ethical responsibility, the decision is said to have been made to ensure the companies take the planet and peoples’ futures into account for generations to come.
In essence, employees become partners of the companies whilst they are employed, ensuring the soul of the business, and the values they represent, remain intact in the future. This also ensures that employees have a greater say in the company, as well as their employment itself.
Brown said that by passing on the business to the employees, he feels that he’s not only looking after them, but also looking after the interests of loyal customers.
“Outdoor people have come to have high expectations of Nikwax, at many levels, and I would not want them to be disappointed,” explained Brown. “So many companies end up being aggressively taken over and broken up, and lose their soul. This is our best shot at avoiding that and continuing the guiding principles.”