DULUTH, Ga., Aug. 27, 2024 -- Fox Factory Holding Corp. (Nasdaq: FOXF) (the “Company”), a global leader in performance and adventure products, released its third annual sustainability report, detailing progress made over the last year. Rooted in a commitment to innovation and pushing potential further, Fox Factory is making advancements across all four of its strategic frontiers: Planet, People, Product, and Business Fundamentals. The report provides a comprehensive overview of accomplishments from 2023 and aspirations for the future, reinforcing the Company’s dedication to driving measured, positive change within the industry and beyond.
“2023 was a big year for Fox Factory, with our acquisitions of Custom Wheel House, Marucci Sports, and Ride Concepts. As we continue to grow, we remain steadfast in our commitment to not only winning through innovation and performance-defining products, but to do so while prioritizing sustainability,” said Mike Dennison, Chief Executive Officer.
- Increased renewable energy procurement at its two largest facilities (in Gainesville, Ga., and Taichung City, Taiwan) by 37%
- Expanded Fox Factory’s signature outreach initiative, Trail Trust. Since its launch, the initiative has partnered with 120+ nonprofits to build or maintain over 750 miles of trails, deliver countless hours of responsible recreation training, and expand opportunities to more than 27,000 underserved adventurers
- Achieved ISO 14001 and ISO 45001 at its Gainesville, Ga., facility, ISO 45001 at its Taichung City, Taiwan, facility, and ISO 9001 at its Jasper, Ind. facility, demonstrating a strong commitment to safety, quality, and environmental management in operations
- Launched Game Changers, a new virtual employee recognition program to celebrate employee accomplishments and service milestones
- Rolled out a new centralized Learning Management System, a one stop-shop for employee training and development, and launched additional Leadership Development Programs for high-potential employees and senior leaders
- Created the Veterans Employee Resource Group (V.E.R.G.) to foster an environment of belonging in the workplace for veterans, active service members, and their families and supporters
PRODUCT – Redefining Sustainable Performance
- Increased pre-production testing volume by 48% for the Specialty Sports Group and 23% for the Powered Vehicles Group to deliver optimal product quality
- Opened a new mechatronics lab in Scotts Valley, Cali., a 5,000-square-foot testing compound in the desert of Ocotillo, Cali., and made significant enhancements in bike test labs in Canada and Taiwan
- Implemented packaging initiatives across the Company to increase the use of recycled and sustainable materials as well as reduce overall packaging mass
