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Business 10th Edition by Ferrell,Geoffrey Hirt,Linda Ferrell
Edition 10ISBN: 978-1259179396Business 10th Edition by Ferrell,Geoffrey Hirt,Linda Ferrell
Edition 10ISBN: 978-1259179396 Exercise 13
ReFleece: A Simple but Sustainable Product
Sam Palmer and Jennifer Feller took a risk with their idea for a sustainable iPad case. They refinanced their home and took out a home equity loan for $150,000 to found ReFleece in 2012, a business that uses up-cycled fleece as material for tablet cases. Up-cycling refers to reusing material without compromising its quality. Equipped with design experience and a concern for sustainability, Palmer and Feller partnered with Patagonia's Common Threads Initiative that brings in old consumer fleece to be recycled. ReFleece gets most of its raw materials from this program. The only new materials on these tablet cases are thread, snaps, and elastic. These sustainable tablet cases are manufactured in the United States, which helps the company save on costs. ReFleece is sold on Amazon, in Patagonia stores, and on refleece.com for $25 to $32, depending on the size of the case.
The entrepreneurs have been praised for their ability to create a useful product from old materials as well as for their commitment toward social responsibility. The company is a member of 1 percent for the Planet, donating 1 percent of its profits toward environmental nonprofits. ReFleece expects to earn $150,000 in sales of sustainable tablet cases. 26
How has the partnership with Patagonia likely affected ReFleece's sales?
Sam Palmer and Jennifer Feller took a risk with their idea for a sustainable iPad case. They refinanced their home and took out a home equity loan for $150,000 to found ReFleece in 2012, a business that uses up-cycled fleece as material for tablet cases. Up-cycling refers to reusing material without compromising its quality. Equipped with design experience and a concern for sustainability, Palmer and Feller partnered with Patagonia's Common Threads Initiative that brings in old consumer fleece to be recycled. ReFleece gets most of its raw materials from this program. The only new materials on these tablet cases are thread, snaps, and elastic. These sustainable tablet cases are manufactured in the United States, which helps the company save on costs. ReFleece is sold on Amazon, in Patagonia stores, and on refleece.com for $25 to $32, depending on the size of the case.
The entrepreneurs have been praised for their ability to create a useful product from old materials as well as for their commitment toward social responsibility. The company is a member of 1 percent for the Planet, donating 1 percent of its profits toward environmental nonprofits. ReFleece expects to earn $150,000 in sales of sustainable tablet cases. 26
How has the partnership with Patagonia likely affected ReFleece's sales?
Explanation
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Business 10th Edition by Ferrell,Geoffrey Hirt,Linda Ferrell
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