Founded on Australia's Gold Coast in 1973. After years of struggling financially, Billabong was acquired for $380m by the US company that owns Quiksilver
|Billabong International Ltd||AUS||website|
| Boardriders Inc
owns 100% of Billabong International Ltd
Surfwear and youth clothing
Established in Torquay, Australia in 1969, but now based in California, USA. Formerly Quiksilver Inc, the company changed its name to Boardriders Inc in May 2017, and in 2019 it bought struggling Australian surfwear giant Billabong for $200m. Controlled by Oaktree Capital since 2015. Blackrock controlled Authentic Brands Group announced it will buy the group in 2023. Operates over 700 stores in over 30 countries.
| Oaktree Capital Management LP
owns 100% of Boardriders Inc
Formed in 1995. Today they have offices in 17 cities in 12 countries. Three quarters of their investments are in North America. Investments include surfwear giants Quiksilver and Billabong.
|Billabong International Ltd|
Billabong reached a conditional agreement in July 2016 to settle a shareholder class action for $45 million. The class action commenced in 2015 and was pursued on behalf of approximately 730 institutional and retail investors, and concerned the timing of an earnings downgrade which saw share prices plummet.
Source: news article (2016)
This 2011 report by the International Textile Garment and Leather Workers' Federation (ITGLWF) examined working conditions in 83 factories in Indonesia, Sri Lanka and the Philippines. Investigations found that widespread violations and abuses of workers' rights continue to be the norm, such as underpaying workers, long hours, forced overtime, and repression of the freedom of association. This company's brands were found to be made in one or more of the 83 factories covered in the research. [Listed under Information due to age of report]
Source: ITGLWF (2011)
In Jan 2017 former Billabong boss Matthew Perrin was sentenced to serve eight years in jail for over 12 counts of fraud. Perrin was found guilty of forging his ex-wife's signature to defraud the Commonwealth Bank of $13.5 million.
Source: news article (2017)
Following a campaign by the Rainforest Action Network in 2009, this company pledged to take concrete action to clean their supply chains of rainforest paper and sever relationships with companies (like Asia Pulp and Paper) who continue to destroy high conservation and endangered forests in Indonesia and elsewhere.
Source: RAN (2010)
This company has announced that they don't sell animal fur or are phasing in a fur-free policy.
Source: Humane Society (2019)
Business & Human Rights Resource Centre digital platform presents news and allegations relating to the human rights impact of over 20,000 companies. Their enhanced Company Dashboards also include financial information, key data points based on corporate policies, and scores from prominent civil society benchmarks. Follow the link and use the search function to view this company's dashboard.
Source: BHRRC (2022)
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 5/100.
Source: Baptist World Aid Australia (2022)
The 2022 Fashion Transparency Index reviewed 250 of the world's largest fashion brands and retailers and ranked them according to how much they disclose about their human rights and environmental policies, practices and impacts. Brands owned by this company scored 7%, signifying it has little to no information about their supply chain practices or policies available to the public. The average score was 24% and the highest score was 78%.
Source: Fashion Revolution (2022)
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)
This 2007 investigative report by China Labour Watch reveals poor work conditions for Chinese workers making products for this company, such as workers being required to work nine hours per day as regular hours in addition to five to six hours of mandatory overtime during peak season which accumulates to 14 work hours per day, about 420 hours per month. [Listed under information due to age of report]
Source: China Labor Watch (2007)
Maid in India', a 2012 report by two Dutch NGOs (SOMO and ICN) revealed how workers in the South Indian garment and textile industry continue to suffer exploitative working conditions while making garments for Western brands. While some recent improvements have been made, thousands of girls work under recruitment and employment schemes that amount to bonded labour. This company was shown to be sourcing from one or more of the four garment manufacturers investigated, and failed to respond to a review request. [Listed under Information due to age of report]
Source: SOMO (2012)
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)
The Quiksilver Foundation was formed in 2004 to bring all of Quiksilver's charitable giving under one umbrella. It is a non-profit organization committed to benefiting and enhancing the quality of life for communities of boardriders across the world by supporting environmental, educational, health and youth-related projects.
Source: company website (2012)
This company is a member of the CanopyStyle initiative, which came about when research found that millions of trees are used every year to produce dissolving pulp, a key ingredient for fabrics such as rayon/viscose. The campaign seeks to phase out the use of endangered forest fibre in fabric.
Source: Canopy (2018)
California, the UK and Australia have all enacted legislation requiring companies operating within their borders to disclose their efforts to eradicate modern slavery from their operations and supply chains. Follow the link to see this company's disclosure statement.
Source: company website (2017)
OpenSecrets.org tracks the influence of money on U.S. politics, and how that money affects policy and citizens' lives. Follow link to see this company's record of political donations, lobbying, outside spending and more.
Source: Open Secrets (2020)
|Oaktree Capital Management LP|
This company has an investment in two companies which supply products to the gambling sector, Interblock and J&J Ventures Gaming.
Source: company website (2023)
This company has an investment in EXCO Resources, an unconventional oil and natural gas exploration, exploitation, development and production company, with a focus on shale resource plays. Operates mainly in Texas, Louisiana, and Appalachia.
Source: company website (2017)
Foolow the link to see this company's policy on socially responsible investing.
Source: company website (2017)
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)
This company is recommended for divestment by the Project of the American Friends Service Committee for its involvement in the Israeli occupation of parts of Palestine. Oaktree bought Veolia's operations in Israel, including a dump site in the occupied West Bank and a wastewater facility that serves illegal settlements.
Source: AFSC (2021)
|Revenue||1.7 billion AUD (2009)|
|Subsidiaries||GSM (Operations) Pty Ltd
GSM is a wholly owned subsidiary of Billabong International Ltd. It is the Group Operating Centre and Headquarters. It owns the majority of Billabongs trademarks.
|Address||1 Billabong Place, Burleigh Heads, QLD, 4220, Australia|
|Phone||07 5589 9899|