Theory

Theory is owned by Fast Retailing.

Our “Planet” rating evaluates brands based on the environmental policies in their supply chains, from carbon emissions and wastewater to business models and product circularity. Here we rate Theory “It’s a Start”. These are a few factors influencing its score:

• It uses some lower-impact materials including recycled materials.
• It’s set a science based target to reduce greenhouse gas emissions in both its direct operations and supply chain but there’s no evidence it is on track.
• It’s published a biodiversity protection policy that applies to some of its supply chain.
• It’s set a target to eliminate hazardous chemicals after 2025 but does not disclose whether it is on track.

Workers’ rights are central to our “People” rating, which assess brands’ policies and practices on everything from child labour to living wages and gender equality. Here we rate Theory “It’s a Start”. These are a few factors influencing its score:

• Its social auditing program is accredited by the Fair Labor Association (FLA).
• There’s no evidence it supports diversity and inclusion in its supply chain.
• To reduce the risk of modern slavery, it prohibits its suppliers from charging workers recruitment fees.
• It provides leadership programs for women in some of its supply chain, which can lead to promotions and higher wages.
• Its Code of Conduct covers ILO Four Fundamental Freedoms principles.
• It claims to have a program to improve wages but there’s no evidence it ensures its workers are paid living wages in most of its supply chain.
• During the height of the COVID-19 pandemic, it disclosed policies to protect workers in its supply chain from the virus.

Brands’ animal welfare policies and, where applicable, how well they trace their animal-derived products are the focus of our “Animals” rating. Here we rate Theory “It’s a Start”. These are a few factors influencing its score:

• It has a formal policy aligned with the Five Freedoms of animal welfare and clear implementation mechanisms in place.
• It appears to use leather and exotic animal hair.
• It has a policy to source wool from non-mulesed sheep but doesn’t provide any evidence to verify its claims.
• Responsible Down Standard certifies the down it uses.
• It doesn’t appear to use fur, angora, or exotic animal skin.
• It traces some animal-derived materials to the first production stage.

Based on all publicly available information we’ve reviewed, we rate Theory “It’s a Start” overall.