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 “Good”. These are a few factors influencing its score:

• It uses some lower-impact materials including recycled materials, however it does not publish an aggregate breakdown of materials used.
• It’s set a science based target to reduce greenhouse gas emissions in both its direct operations and supply chain, and it claims it’s on track.
• It’s set a target to eliminate hazardous chemicals after 2025 and claims it’s on track.
• It’s set a target to improve its suppliers' water stewardship.
• It takes some actions to reduce water use in the final production stage.

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 “Good”. These are a few factors influencing its score:

• Its entire final production stage is certified by Fair Labor Association (FLA).
• Its Code of Conduct covers ILO principles.
• Its initiatives help provide financial security for its suppliers, which can ensure better job conditions for workers.
• There’s no evidence it supports diversity and inclusion in its supply chain.
• Its recruitment procedures aim to identify and support workers at risk of modern slavery.
• 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 adequate 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 “Not Good Enough”. These are a few factors influencing its score:

• It appears to use leather, wool, and cashmere.
• It doesn’t appear to use fur, angora, exotic animal skin, shearling, alpaca, mohair, or down.
• It has a formal policy but it is not aligned with the Five Domains of Animal Welfare.

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