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Outdoor recreation retail co-op REI is asking its suppliers to double down on their climate strategies and social justice policies, and will require all existing partners to share their climate action plans by the end of this year.
The expectations were included in the impact report REI released today along with the company's 2020 financials. In it, the outdoor recreation retail co-op shared that it reached $2.75 billion in revenue in 2020 and highlights other wins from the year that was, including details of the organization’s climate strategy.
Included in the report is an overview of how REI has been implementing circular business model practices for years now, offering re-commerce and gear repair as ways to extend the life of products. In 2020, it tested a retail format with a pilot of two standalone used gear pop-up stores in Manhattan Beach, California, and Conshohocken, Pennsylvania, according to the report.