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BATH & BODY WORKS INC

BBWI

Industrials

1

exclusion reason

1 theme

Animal Welfare (1)
BBWI Industrials Current as of April 2026

This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.

Animal Testing & Research
Since Mar 12, 2026

Bath & Body Works manufactures and sells personal care and home fragrance products, a category where animal testing for safety is a common industry practice. The company states it does not conduct animal testing itself. However, to sell its products in mainland China, it must submit to mandatory animal testing required by Chinese law for imported cosmetics. This means the company’s products are tested on animals by Chinese authorities as a condition of market access, constituting commercial exploitation of animals at scale.

The company’s packaging carries a “not tested on animals” label, but this claim is contradicted by its market presence in China. Its corporate statements express a commitment to eliminating animal testing worldwide while acknowledging the use of non-animal methods “where accepted by local regulations.” This positions the company as complying with, and thus financially supporting, a regulatory regime that mandates animal testing. Cruelty Free Investors, which tracks corporate animal welfare policies, has moved Bath & Body Works from a “grey area” to its list of companies whose products are subject to animal testing.

Research Sources 1 organization
Cruelty Free Investors
External

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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.

This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.

Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.