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Jets Swimwear

OVERALL

Owned
USA
Rating
Criticism, some praise

Swimwear

The Jets swimwear label was bought and re-launched by Jessica & Adrian Allen in 2001. Acquired by PAS Group in 2015, who sold the brand to Seafolly in 2020 while both companies were in administration.

Company Ownership

Jets Swimwear Pty Ltd   AUS     website   email   facebook   twitter
  Seafolly Pty Ltd   
   owns 100% of Jets Swimwear Pty Ltd  
AUS     website   email   facebook   twitter

Swimwear

Founded in 1975 by husband and wife team Peter and Yvonne Halas. L Catterton Asia acquired a 70% stake in 2014 and the remaining 30% in 2018, but in 2020 the company went into administration.

      L Catterton Asia   
       owns 100% of Seafolly Pty Ltd  
SGP     website   email      

Private equity firm

Part owned by luxury goods giant LVMH. Owns majority stakes in three Australian clothing companies, 2XU, Seafolly and RM Williams.

       »    L Catterton Management Ltd   
             owns 100% of L Catterton Asia  
USA     website   email      

Private equity firm

In 2016 LVMH merged its private equity arm with American private equity company Catterton to create L Catterton.

  LVMH Moet Hennessy Louis Vuitton SA   
   owns 40% of L Catterton Management Ltd  
FRA     website   email   facebook   twitter

Luxury goods

World's largest luxury goods company. Wines and spirits, perfumes, cosmetics, fashion and leather goods, watches and jewellery, plus a retail division. Chairman Bernard Arnault and his family, through Groupe Arnault, own about 47% of LVMH.

> About the Ratings

Company Assessment

PRAISE CRITICISM INFORMATION
Jets Swimwear Pty Ltd
Social 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: Ethical Clothing Australia (2017)
Seafolly Pty Ltd
Social Ethical Trading Initiative member
The Ethical Trading Initiative (ETI) is an alliance of companies, trade unions and NGOs. They work in partnership to improve the lives of workers across the globe who make or grow consumer goods - everything from tea to T-shirts, from flowers to footballs. This company is a full member.
Source: Ethical Trading Initiative (2021)
Social 28/100 in 2022 Ethical Fashion Report
Baptist World Aid Australia's '2022 Ethical Fashion Report' assessed 120 companies on their efforts to mitigate against the risks of forced labour, child labour and worker exploitation in their supply chains, as well as protect the environment from the harmful impacts of the fashion industry. Assessment criteria fall into five main categories: policy & governance, tracing & risk, auditing and supplier relationships, worker empowerment and environmental sustainability. This company received a score of 28/100.
Source: Baptist World Aid Australia (2022)
Social No COVID Fashion Commitments
In 2020 Baptist World Aid Australia released The COVID Fashion Report, a special edition of their Ethical Fashion Report. The report is framed around six COVID Fashion Commitments that ask companies to demonstrate the steps and measures they are taking to protect and support the most vulnerable workers in their supply chains. This company showed no evidence of actions that it covered any of the COVID Fashion Commitments.
Source: Baptist World Aid Australia (2020)
Animals Angora ban
This company has taken angora items off the shelves and promised not to use angora again, following a PETA campaign launched in Dec 2013 which revealed the cruelty inflicted on angora rabbits in Chinese factory farms, where 90% of the world's angora is produced.
Source: PETA (2018)
Business Ethics Sedex member
This company is a member of the Supplier Ethical Data Exchange (Sedex), a not-for-profit, membership organisation that leads work with buyers and suppliers to deliver improvements in responsible and ethical business practices in global supply chains. Tens of thousands of companies use Sedex to manage their performance around labour rights, health & safety, the environment and business ethics.
Source: Sedex (2018)
L Catterton Asia
Business Ethics Controversial Seafolly deal
In 2020, L Catterton Asia-owned company Seafolly went into administration, and was bought by L Catterton Asia. While still in administration, Seafolly bought swimwear rival Jets. An unnamed source told AFR that L Catterton had driven the business into the ground and made hundreds of its workers redundant, and was now buying it back "for cents on the dollar". The source also expressed concern that the administration process was merely a formality and that the restructure had already been agreed on before the business went down.
Source: Inside Retail (2020)
L Catterton Management Ltd
Business Ethics Part owned by LVMH, which has criticisms
This company is 40% owned by LVMH, which has several criticisms and an overall Shop Ethical rating of 'F'.
Source: Shop Ethical (2020)
Business Ethics UN Principles for Responsible Investment signatory
UNPRI is a set of six principles direct institutional investors may adopt to consider environmental, social and corporate governance issues when investing. UNPRI is a voluntary agreement.
Source: UNPRI (2020)

> About the Icons

Company Details

Type Wholly-owned subsidiary

Contact Details

Address 8-18 Bowden St, Alexandria, NSW, 2015, Australia
Phone 02 9698 6668
Email info@jets.com.au
Website www.jets.com.au

Products / Brands

Jets Swimwear
Jets Swimwear


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