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REI

Kent, WA

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REI, short for Recreational Equipment Inc., was founded in 1938 in Seattle by a group of mountain climbers, including Lloyd and Mary Anderson, who wanted better access to quality ice axes and climbing equipment than what was then commercially available in the United States. The company operates as a consumer cooperative rather than a traditional publicly traded corporation, meaning customers can become lifetime members for a small one-time fee and receive an annual dividend based on their purchases, a structure that has remained central to REI's identity since its founding. REI became well known for its "Opt Outside" campaign, launched in 2015, in which the company closes all of its stores on Black Friday and pays its employees to spend the day outdoors instead, a deliberate rejection of the retail industry's biggest shopping day that generated significant national media attention. REI's combination of its founding cooperative ownership structure and its widely publicized "Opt Outside" Black Friday closure campaign has made it one of the most distinctively positioned outdoor and sporting goods retailers in the country.

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