TORRID HOLDINGS INC. 2021 Sustainability Report
CEO LETTER | ABOUT | SUSTAINABILITY | ENVIRONMENTAL | SOCIAL | GOVERNANCE | ABOUT REPORT | SASB TEARSHEET | |||||||||
Table of Contents
Letter from the CEO | 3 | Social Responsibility | 13 |
About Torrid | 4 | Labor and Human Rights | |
Our Products | 4 | in the Supply Chain | 14 |
Diversity and Inclusion | 15 | ||
Approach to Sustainability | 5 | ||
Workplace Health and Safety | 18 | ||
Materiality | 5 | ||
Employee Engagement | |||
Management and Oversight | 5 | ||
and Development | 19 | ||
Environmental Responsibility | 6 | Empowering Communities | 21 |
Sustainable Materials Sourcing | 7 | ||
Chemical Management | 7 | ||
Packaging Impacts | 8 | ||
Energy and Carbon | 9 | ||
Waste and Recycling | 10 | ||
Water | 11 | ||
Logistics & Distribution | 12 |
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Governance | 22 |
Corporate Governance | 23 |
Business Ethics and Integrity | 24 |
Risk Management | 25 |
Data Protection and Security | 26 |
About This Report | 27 |
SASB Tearsheet | 28 |
CEO LETTER
ABOUT | SUSTAINABILITY | ENVIRONMENTAL | SOCIAL | GOVERNANCE | ABOUT REPORT | SASB TEARSHEET | ||||||
A Letter from the CEO
At Torrid, we are passionate about doing business in ways that make a positive impact in our communities. From our inception 21 years ago, Torrid broke the rules - we didn't believe curvy bodies should change to fit clothes; we changed clothes to fit curvy bodies. We want to be the catalyst for even more change as we focus on sustainability to enrich our communities and build a better future for everyone.
Our commitment to using our power for good has expanded into a broader sense of responsibility as a corporate citizen to do our part in a global economy. Our goals are simple: drive a more sustainable business, help support the communities we serve, and create a safe and equitable workplace for our employees to thrive in.
Our responsibility doesn't stop there; we continue to integrate sustainability into our global supply chain, working directly with factories to promote environmentally-preferable manufacturing practices and socially responsible workplace programs.
We are off to a great start, but we know there is more work to be done. In 2017 we established the Torrid Foundation to help change lives by advocating for women of all races, ages, and sizes. Since that time, we have raised almost $9M for charitable programs promoting women's equality, wellness, and empowerment. In 2020 we established a Diversity & Inclusion committee who have focused on a specific purpose - Creating A Place Where We All Belong. This year we established the Sustainability Steering Committee, a
group comprised of Torrid senior leadership committed to developing a robust sustainability and social responsibility strategy, as well as providing the necessary resources for implementation. This first ESG report underscores our commitment to transparency, as we acknowledge we are in the early stages of building this pathway.
We recognize that our business plays a major part in our customers daily life - our fit empowers women to embrace exciting and endless possibilities, and we will do our part to protect the planet so that everyone for generations to come will have the same exciting and endless possibilities. We have the support of our communities, customers, and employees who will keep us accountable as we strive for a more equitable and sustainable future.
We look forward to continuing our work in the year ahead.
With gratitude,
Lisa Harper, Torrid CEO
CEO LETTER
ABOUT
SUSTAINABILITY | ENVIRONMENTAL | SOCIAL | GOVERNANCE | ABOUT REPORT | SASB TEARSHEET | |||||
About Torrid
Torrid Holdings Inc. (CURV) is a direct-to- consumer brand of apparel, intimates, and accessories in North America, targeting the 25 to 40-year-old woman who wears sizes 10-30. We are known for providing an unparalleled fit and experience, empowering curvy women to love the way they look and feel. Torrid offers a full range of products for our customer that includes tops, bottoms, denim, dresses, intimates, activewear, footwear and accessories.
Torrid began operations in April 2001, and we opened our first store location in the Brea Mall in Brea, California. At the end of 2021, we had over 600 stores in operation across 50 states in the United States and Puerto Rico, and an international presence of 24 stores in Canada. In addition
to stores, we have a broad reaching ecommerce business that makes up the majority of our sales, and we are proud to offer a truly unified commerce model. Our inclusive and welcoming environment drives loyal relationships, and we have over 8,000 employees globally, and we serve almost 4 million active customers.
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OUR PRODUCTS
Apparel
We offer a broad assortment of apparel that spans across tops, bottoms, dresses, denim, and outerwear. We launch new and innovative product lines that excite our customer, including our exclusive Lovesick, Betsey Johnson, and Studio collections.
Intimates
Torrid Curve, our intimates brand, combines both comfort and sexy with an extensive collection that includes lingerie, lounge, sleep, swim, and activewear.
We deliver world-class fit across all of our products, and offer patent pending technology in our most popular bras.
Accessories
We offer a compelling assortment of accessories that complement every outfit in our customer's closet. Our product line includes wide-width shoes, boots, jewelry, and other accent pieces.
CEO LETTER | ABOUT | |
SUSTAINABILITY
ENVIRONMENTAL | SOCIAL | GOVERNANCE | ABOUT REPORT | SASB TEARSHEET | ||||
Approach to Sustainability
MATERIALITY
In early 2022, we completed a materiality assessment to better understand the environmental, social, and governance issues that impact our business success and our stakeholder relationships. The process involved a peer group analysis, interviews with key Torrid executives and managers, and an analysis of sustainability reporting frameworks and industry ESG standards. We have used these results to guide the disclosures in this report.
Our top fifteen categories of focus are:
- Business Ethics and Integrity
- Chemical Management
- Corporate Governance
- Data Protection and Security
- Diversity and Inclusion
- Employee Engagement and Development
- Empowering Communities
- Energy and Carbon
- Labor and Human Rights in the Supply Chain
- Logistics and Distribution
- Packaging Impacts
- Risk Management
- Sustainable Materials Sourcing
- Waste and Water
- Workplace Health and Safety
MANAGEMENT AND OVERSIGHT
In 2022, we assigned co-sponsorhip of our newly created Sustainability Steering Committee to Finance and Legal executives, reflecting the increased focus on aligning sustainability and financial performance.
The Sustainability Steering Committee comprises a cross-functional group of senior leaders from finance, human resources, distribution/logistics, supply chain, merchandising, marketing, retail operations, legal, IT and others. The Committee's role is to develop Torrid's sustainability strategy and provide appropriate resources for implementation.
The Nominating and Governance Committee (NGC) of the Board of Directors has oversight over Torrid's sustainability performance.
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Disclaimer
Torrid Holdings Inc. published this content on 28 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 August 2023 15:45:29 UTC.
