May 2013 | Business Anniversaries

REI, one of the nation’s largest consumer co-op’s and a trusted retailer of outdoor gear, is proud to celebrate its 75th anniversary this year.HistoryREI was founded as an outdoor gear co-op on July 21, 1938 by Seattle mountaineer Lloyd Anderson. Lloyd had wanted a reliable ice axe at a reasonable price, but had no success in finding one locally. He finally found one in an Austrian alpine gear catalog for only $3.50 which included the shipping to the U.S. Word quickly spread among Seattle climbers about his amazing find. This led Lloyd and his wife, Mary along with 21 fellow climbers to establish the outdoor gear co-op. Today, REI has over $1.6 billion in sales. Its leadership has earned the title of Fortune Magazine’s “100 Best Companies to Work For” 15 years in row!AboutREI is committed to helping people enjoy the great outdoors to the fullest, from weekend family camping trips to Mt. Everest expeditions, by offering innovative and high-quality outdoor gear and apparel. REI’s values are reflected in everything they do, from their focus on customers to their commitment to environmental stewardship. Their values serve as a foundation for how they conduct business, how they serve members and how they treat each other.Authenticity- being true to the outdoorsQuality- providing trustworthy products and servicesService- serving others with expertise and enthusiasmRespect- embrace differences and listen and learn from each otherIntegrity- demonstrate rock-solid ethics, honesty and decencyBalance- encourage personal growth and fun to enjoy all aspects of lifeMilestones1938- The first REI logo1938- REI begins selling merchandise in the Richfield gas station1940- Begins the decade with 200 members and $3,000 in annual sales1944- The first REI store opens in Seattle1945- Co-op creates a gear rental business1946- Hiring of first part-time employee1950- Begins the decade with 3,000 members and $40,000 in annual sales1954- First of many expansions1956- The co-op officially becomes Recreational Equipment, Inc. when members vote to incorporate as a nonprofit1960- Begins the decade with 20,000 members and $500,000 in annual sales1963- Grand Opening of REI’s 2nd location in Seattle1962- Warehouse blow-out flood sale marks beginning of used-gear sales1963- Jim Whittaker –sales manager and one of REI’s first employees, becomes first American to summit Mount Everest1966- Debut of profit sharing plan1967- THAW corporation- subsidiary of REI begins making sleeping bags and soft goods1969- Climbing safety pioneer Cal Magnusson joins REI as the first quality control engineer1970- Begins decade with 200,000 members, 2 retail locations in Seattle, and $5 million in annual sales, Lloyd Anderson retires1972- REI announces 250,000th member1975- Grand opening of REI’s first retail location outside of Seattle in Berkeley, CA1976- REI launches giving program to support outdoor recreation1977- First distribution center opens along with administrative headquarters, Tukwila, WA1980- Begins the decade with 1 million members, 6 retail stores, and $50 million in annual sales1983- REI launches Novara, a line of bikes, cycling clothing, and accessories1987- REI Adventures is launched featuring unique travel itineraries focusing on sustainable, human-powered outdoor adventures, off the beaten path, in iconic destinations1989- REI co-founds the Conservation Alliance to fund the protection of wild places1990- Begins the decade with 2 million members, 26 retail stores and over $230 million in annual sales1993-Mary and Lloyd Anderson are inducted into the Cooperative Business Association’s Hall of Fame1993- Launch of REI Foundation in honor of 3 Seattle employees who died on Mt. Rainier1996- flagship store opens in downtown Seattle and REI.com is launched as the largest outdoor gear and apparel store on the Internet1998- REIoutlet.com launched1998-2013- Forbes “Top 100 Companies to Work For”2000- Begins decade with over 5 million members, 61 retail stores, and nearly $700 million in annual sales2006- REI celebrates $1 billion in annual sales by awarding $1 million in grants to 100 national parks2008- REI goes mobile and joins social media2010- Begins decade with 10 million members, 114 retail stores, and $1.66 billion in annual sales2013- REI celebrates 75 yearsREI is celebrating 75 years by having an anniversary sale of up to 30% off items and offering members 20% off one full price item. Congratulations REI on 75 years!

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