Jets Swimwear

OVERALL
Owned	AUS
Rating

Swimwear

The Jets swimwear label was bought and re-launched by Jessica & Adrian Allen in 2001. Some of their clothing is made in Australia. Acquired by PAS Group in 2015.

Company Ownership

Jets Swimwear Pty Ltd	AUS	website	email	facebook	twitter
The PAS Group Pty Ltd       owns 100% of Jets Swimwear Pty Ltd	AUS	website	email
Clothing & sportswear manufacturers & wholesalers Acquired and integrated 8 Australian apparel and accessories companies since 2004, when the company was founded. Designs locally and imports primarily from China. Now operates 23 brands which are sold throughout Australia, New Zealand and South Africa in major retail chains and over 1,000 independent retailers.
Coliseum Capital Partners LP           owns 39% of The PAS Group Pty Ltd	USA
Private equity firm Increased its stake in Australian fashion company PAS Group from 19% to 46% in Nov 2015.

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Company Assessment

PRAISE	CRITICISM	INFORMATION
Jets Swimwear Pty Ltd
		Previous ethical clothing australia accreditation This company was previously accredited and licensed to display the 'Ethical Clothing Australia' Trade Mark on their Australian-made garments, which ensures Australian workers receive fair wages and decent conditions. Their accreditation ceased in Nov 2017. [Source 2017][More on Workers Rights] C grade in 2018 Ethical Fashion Report C grade in the Baptist World Aid Australia's 'Ethical Fashion Report 2018', which grades companies, from A to F, on the strength of their systems to mitigate against the risks of forced labour, child labour, and exploitation in their supply chains. Assessment criteria fall into four main categories: policies, knowing suppliers, auditing and supplier relationships, and worker empowerment. [Source 2018][More on Workers Rights]
The PAS Group Pty Ltd
Australian Packaging Covenant signatory Signatory to the Australian Packaging Covenant, a voluntary agreement to encourage waste minimisation. [Source 2017][More on Packaging] Uzbek cotton commitment This company has signed the Cotton Pledge with the Responsible Sourcing Network, signifying a public commitment to not use Uzbekistani cotton. (Uzbekistan is the world's fifth largest exporter of cotton and has for decades been criticised for using the forced labour of its schoolchildren to harvest that cotton by hand under appalling conditions. This practice is organised and controlled by the central government). [Source 2016][More on Human Rights] Workers rights Oxfam Australia's 2016 Naughty or Nice list ranks the biggest and most popular clothing brands on what they are actually doing to protect and support the women making our clothes, especially on whether brands are bold enough to bring the list of factories that make their clothes out of hiding. This company has been dubbed 'Nice', as they have published a list of 70% of their supplier factories. Also, one of their brands has signed the Bangladesh Accord and another is accredited by Ethical Clothing Australia. [Source 2016][More on Workers Rights]		Transparency Scorecard Oxfam Australia's 2016 Transparency Scorecard investigates 12 of Australia's major fashion retailers and reveals which ones have published the names and locations of their factories. This company has not published any of their overseas suppliers' names or addresses. [Source 2016][More on Governance] C- grade in 2018 Ethical Fashion Report C- grade in the Baptist World Aid Australia's 'Ethical Fashion Report 2018', which grades companies, from A to F, on the strength of their systems to mitigate against the risks of forced labour, child labour, and exploitation in their supply chains. Assessment criteria fall into four main categories: policies, knowing suppliers, auditing and supplier relationships, and worker empowerment. [Source 2018][More on Workers Rights] About the company This article called "5 Things You Didn't Know About PAS Group" reveals the extent of their holdings, including over 20 fashion brands plus Designworks, who make apparel under license and for Big W and Target private label brands. [Source 2014]

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PAS Group acquires Jets
1st Dec 2015 — Australian swimwear label Jets has been snapped up by retail juggernaut The PAS Group.

The acquisition was reportedly funded by PAS's existing cash and a margin of its undrawn debt facility and is expected to be immediately earnings accretive.

PAS targeted the swim and activewear label due to its high margin business which records an EBIDTA to sales ratio in excess of 15% this year.

PAS CEO Eric Morris believes the acquisition will push the Jets brand further into the global market.

'Jets is a strong brand in Australia with a highly developed design, production and distribution infrastructure.

'It also enhances our presence in the rapidly growing activewear market and provides a platform for significant future growth.

'In Australia, there are opportunities to increase its retail footprint and expand its online presence.

The PAS Group currently owns and operates major Australian fashion retailers including Review and Metalicus  [source]