Top

Company Overview & Strategy

Click here to learn more about our business.

Party City is the leading party goods and Halloween specialty retailer by revenue in North America and, we believe, the world’s largest vertically integrated supplier of decorated party goods with multiple levers to drive future growth across channels, products and geographies.

Party City operates 850 company-owned and franchise stores throughout North America. Our worldwide locations include our corporate headquarters in Elmsford, New York as well as locations throughout Asia, Europe, the Americas and Australia. The company also sells direct to customers through its e-commerce website, PartyCity.com with Buy Online Pick Up In Store and Curb Side Pick Up available at select stores.

We design, manufacture and distribute party goods found in over 40,000 retail outlets worldwide, including Party City stores as well as independent party supply stores, mass merchants, grocery retailers, dollar stores and others.

Through a series of acquisitions between 2005 and today, we have built a powerful retail operation that captures the full manufacturing-to-retail margin on a significant portion of the products sold in our stores. Our category-defining retail concept, multi-channel reach, widely recognized brands, broad and deep product offering, and low-cost global sourcing model are, we believe, significant competitive advantages which position us for continued organic and acquisition-led growth and margin expansion.

Press Releases

      In the News

      Calendar & Presentations

      Financial Filings

      Date FiledFilingDescriptionDownloads
      Previous Next

        Stock Info

        Stock Quote

        Stock Quote: NYSE

        Party City

        NYSE:PRTY

        $2.13 +0.04 ( +1.91% ) October 23, 2020 04:00 PM Minimum 20 min delay
        Open 2.11
        Previous Close 2.09
        High 2.20
        Low 2.07
        Volume 3,202,424
        52-Week High 7.37
        52-Week Low 0.26

        Historic Price Lookup

        Investment Calculator

        Analyst Coverage

        Firm Analyst
        Credit Suisse Seth Sigman
        JP Morgan Tami Zakaria
        Morgan Stanley Simeon Gutman
        Stephens Rick Nelson
        Telsey Joe Feldman

        Investor Resources

        Investor AlertsUnsubscribe

        Sign Up* *
        Mailing Lists *




         
        Enter the code shown above.

        Contact Investor Relations

        ICR
        Farah Soi & Rachel Schacter
        203-682-8200
        investorrelations@partycity.com

        FAQ

        Where is the company’s corporate headquarters?

        80 Grasslands Road
        Elmsford, New York 10523

        back to top

        What countries does the company operate in?

        Party City is the leading party goods retailer in North America and operates the only coast-to-coast network of party superstores in the U.S. and Puerto Rico. Globally, our broad selection of decorated party supplies are available in more than 100 countries with Canada, the U.K., France, Germany and Australia among our largest international markets.


        back to top

        Who sits on the company’s BOD?

        You can view the biographies of the Party City Board of Directors here.

        back to top

        Who is on the company’s management team?

        You can view the biographies of the Party City management team here.

        back to top

        When was the company’s IPO and at what price?

        Party City made its Initial Public offering on 16 April 2015 on the New York Stock Exchange under the ticker symbol ‘PRTY’. The public offering price was $17.00 per share.

        back to top

        On what stock exchange(s) is the company traded and under what symbol?

        Party City is listed on the New York Stock Exchange under the symbol “PRTY”.

        back to top

        How can I purchase the company’s shares?

        Investments in shares of stock can be made through a registered broker or through our transfer agent, Computershare Trust Company. Computershare can be contacted at the following:

        Phone: (800) 942-5909
        Website: https://www-us.computershare.com/investor/Contact/Enquiry

        back to top

        Does the company pay a dividend on its stock?

        We do not pay dividends at this time.

        back to top

        Does the company have a direct stock purchase plan for employees of the company?

        We do not have any current plans to offer a direct stock purchase plan for employees.

        back to top

        What is the company’s CUSIP and ISIN?

        CUSIP: 702149105 ISIN: US7021491052

        back to top

        What is the company’s fiscal year end?

        The Company’s retail operations define a fiscal year (“Fiscal Year”) as the 52-week period or 53-week period ended on the Saturday nearest December 31st of each year, and define their fiscal quarters (“Fiscal Quarter”) as the four interim 13-week periods following the end of the previous Fiscal Year, except in the case of a 53-week Fiscal Year when the fourth Fiscal Quarter is extended to 14 weeks. The consolidated financial statements of the Company combine the Fiscal Year and Fiscal Quarters of the Company’s retail operations with the calendar year and calendar quarters of the Company’s wholesale operations, as the differences are not significant.

        back to top

        Who is the company’s Independent Registered Public Accounting Firm?

        Ernst & Young LLP.

        back to top

        Who is the company’s transfer agent?

        Computershare Trust Company, N.A.

        back to top

        How do I transfer stock, change the address on my shareholder account, or replace a lost stock certificate?

        Computershare Trust Company can be contacted at the following:

        Phone: (800) 942-5909
        Website: https://www-us.computershare.com/investor/Contact/Enquiry

        back to top

        Who should I contact regarding investor queries?

        back to top

        Where can I find all of the SEC filings for the company? Where can I download and view quarterly and annual reports?

        You can view all of Party City’s SEC filings here.

        back to top

        Where can I access the Form 8937 associated with the July 2020 debt exchange?

        The Form 8937 is available here.

        back to top

        How do I get added to the company’s email distribution list?

        You can sign up for Party City’s Email Alerts by clicking here.

        back to top

        Where can I get information about franchise opportunities?

        Party City is not currently offering any franchise opportunities. However if you are interested in opening an independent party retail store, you may order products directly from our wholesale customer site at www.amscan.com.

        back to top

        Brad Weston , , , Director and Chief Executive Officer

        Bradley M. Weston became our Chief Executive Officer effective April 1, 2020 and has been a member of our Board since April 2020. Mr. Weston joined the Company as President of Party City Holdco Inc. (“PCHI”) and Chief Executive Officer of Party City Retail Group, in July 2019. Prior to joining the Company, Mr. Weston served as Chief Executive Officer at Petco, where he held several leadership positions of increasing responsibility from 2011 to 2019. Before joining Petco, Mr. Weston held several senior executive positions at Dick’s Sporting Goods from 2006 to 2011, including Chief Merchandising Officer. Mr. Weston currently serves on the Board of Directors of Boot Barn. Mr. Weston holds a B.S. in business administration from the University of California, Berkeley. Mr. Weston’s extensive experience in the retail industry and his roles as Chief Executive Officer here and at Petco led to the conclusion that he should serve as a director of our Company.

        Norman S. Matthews , , , Director and Chairman

        Norman S. Matthews has been a member of our Board since May 2013. Mr. Matthews has worked as an independent consultant and venture capitalist since 1989. From 1978 to 1988, Mr. Matthews served in various senior management positions for Federated Department Stores, Inc., including President from 1987 to 1988. Mr. Matthews currently serves on the board of directors of Spectrum Brands, Inc. (as Chairman of its nominating and governance committee) and as Chairman of the Board of The Children’s Place, Inc. Mr. Matthews is director emeritus of The Progressive Corporation, Sunoco, Inc., Toys ‘R’ Us, Inc. and Federated Department Stores, Inc., Henry Schein and a trustee emeritus at the American Museum of Natural History. In 2005, Mr. Matthews was named as one of eight outstanding directors by the Outstanding Directors Exchange (an annual award voted on by peer directors and awarded to an outstanding director for the key role he played during a crisis, business transformation or turnaround).

        James M. Harrison , , , Director and Vice-Chair

        James M. Harrison became our Vice Chairman effective April 1, 2020 and has served on the Board since July 2012. Prior to his appointment as Vice Chairman, Mr. Harrison served as Chief Executive Officer from January 2014 to March 2020. Mr. Harrison also served as our President from December 1997 to January 2015. From March 2002 to July 2012, Mr. Harrison served as our Chief Operating Officer. From February 1997 to March 2002, Mr. Harrison also served as our Chief Financial Officer and Treasurer. From February 1997 to December 1997, Mr. Harrison served as our Secretary. Mr. Harrison holds a B.S. in accounting from Fordham University. Mr. Harrison’s extensive experience in the decorated party goods industry and his 20-year tenure and his role as the Vice Chairman of our Company led to the conclusion that he should serve as a director of our Company.

        Joel Alsfine , , , Director

        Mr. Alsfine is a Senior Advisor to MSD Capital. Until July 2020, Mr. Alsfine was a Partner and the head of the Tactical Investments Group at MSD. MSD Capital is an investment firm formed to manage the capital of Michael Dell and his family. As head of the Tactical Investment Group, Mr. Alsfine led a team that drew on MSD’s investment experience and external relationships to invest flexibly across a variety of public and private asset classes. Mr. Alsfine joined MSD in 2002 as an analyst focusing on investing in public equity securities and subsequently became the portfolio manager of a large, concentrated public equity portfolio. Mr. Alsfine became a Partner of MSD in February 2014. Prior to joining MSD Mr. Alsfine worked at TG Capital Corp, a single-family investment office investing across all asset classes, McKinsey & Company, and accounting firm Fisher Hoffman Stride. Mr. Alsfine is on the Board of Asbury Automotive Group Inc (Ticker ABG). He also serves on the Board of Life Time Inc., and he is an independent director of CC Neuberger Principal Holdings II, a Special Purpose Acquisition Company. Mr. Alsfine received his M.B.A. from Stanford Graduate School of Business in 1996 and his Bachelor of Commerce (Honors) in Accounting in 1990 from the University of the Witwatersrand in South Africa.

        Steven J. Collins , , , Director

        Steven J. Collins has been a member of our Board since July 2012. Mr. Collins was a Managing Director at Advent International Corporation (“Advent”) from 2007 to 2017. Mr. Collins joined Advent in 1995 and rejoined after graduate school in 2000. Mr. Collins is a member of the board of directors of Bojangles’ and Kirkland's. He was a member of the board of specialty retailers Five Below from 2010 to 2015 and lululemon athletica from 2014 to 2017. He holds a BA and BS from the University of Pennsylvania and The Wharton School, and an MBA from Harvard Business School.

        Jim Conroy , , , Director

        Mr. Conroy has served as the President, Chief Executive Officer and a Director of Boot Barn Holdings, Inc since 2012. Prior to joining Boot Barn, Mr. Conroy was with Claire’s Stores, Inc. from 2007 to 2012 where Mr. Conroy served as Chief Operating Officer and Interim Co Chief Executive Officer in 2012, President from 2009 to 2012 and Executive Vice President from 2007 to 2009. Before joining Claire’s Stores, Inc., Mr. Conroy was also employed by Blockbuster Entertainment Group from 1996 to 1998, Kurt Salmon Associates from 2003 to 2005 and Deloitte Consulting in various capacities. Mr. Conroy received a bachelor’s degree in business management and marketing and a master’s degree in business administration from Cornell University. We believe Mr. Conroy is qualified to serve on our board of directors because of his expertise in the strategic and operational aspects of the retail industry, which he has gained during his 26 years working in the industry.

        William S. Creekmuir , , , Director

        William S. Creekmuir has been a member of our Board since March 2016. Mr. Creekmuir is the owner and President of Pinnacle Search Partners, LLC (“Pinnacle”), a global executive search firm, and has served in that capacity since December 2015. Mr. Creekmuir served as an Executive Search Consultant of Pinnacle from January 2015 to November 2015. Since October 2017, Mr. Creekmuir is also a director and partial owner of Iconics Décor, LLC, a lighting manufacturer. Since January 2019, Mr. Creekmuir has been a director of Flexsteel Industries, Inc., a manufacturer, importer and marketer of furniture products and is also a member of its Audit and Ethics committee and Nominating and Governance committee. Since October 2011, Mr. Creekmuir has also served as an independent consultant, including with respect to Pinnacle and as the interim Chief Financial Officer of Sleep Innovations, Inc. from October 2013 until April 2014. Prior to his time as an independent consultant, Mr. Creekmuir served as Executive Vice President and Chief Financial Officer of Simmons Bedding Company from 2000 to 2011 and LADD Furniture, Inc. from 1992 to 2000. Prior to joining LADD Furniture, Inc., Mr. Creekmuir was a partner at KPMG LLP. He also serves on the boards of several for-profit and not-for-profit entities. He holds a BS in business administration from The University of North Carolina at Chapel Hill and he is a certified public accountant.

        Jennifer Fleiss , , , Director

        Ms. Fleiss most recently served as the Chief Executive Officer of Jetblack, a subdivision of Walmart, and prior as Co-Founder, President and Director of Rent the Runway. During her nine years at Rent the Runway, Ms. Fleiss served in a variety of leadership roles in operations, strategy and business development. Ms. Fleiss currently serves on the Board of Directors of Rent the Runway and Shutterfly, Inc. Previously, Ms. Fleiss worked at Lehman Brothers and Morgan Stanley Dean Witter & Co. Ms. Fleiss received her M.B.A. from Harvard Business School in 2009 and her Bachelor of Arts in Political Science from Yale University in 2005.

        John Frascotti , , , Director

        As President and Chief Operating Officer of Hasbro, Inc., John Frascotti leads a global organization focused on creating and delivering the world’s best play and entertainment experiences across Hasbro’s Brand Blueprint, including toys and games, immersive entertainment experiences, digital gaming and consumer products. Mr. Frascotti has been instrumental in leading Hasbro’s transformation from a traditional toy and game manufacturer into a global entertainment and play leader.

        Mr. Frascotti joined Hasbro in 2008 as Executive Vice President and Chief Marketing Officer, became President of Hasbro Brands in 2014, and became President of Hasbro in 2017. In 2018, he was also named Chief Operating Officer, and became a member of Hasbro’s Board of Directors.

        During his tenure, he has played a critical role in the re-imagination and re-invention of Hasbro’s world-class portfolio of Franchise Brands (TRANSFORMERS, NERF, MY LITTLE PONY, BABY ALIVE, MONOPOLY, MAGIC: THE GATHERING and PLAY-DOH) in addition to Hasbro’s Gaming Business, and its portfolio of Partner and Emerging Brands. His extensive expertise and leadership in brand building, digital marketing and media, omni-channel retail strategies, consumer products, licensing, acquisitions, entertainment and talent development have contributed to the transformation of Hasbro’s business globally and the successful formulation and execution of Hasbro’s global strategy.

        In addition to serving on Hasbro’s Board of Directors, Mr. Frascotti is a member of the Board of Directors of Corus Entertainment in Toronto, Canada, and a member of the Board of Directors of Discovery Family Channel, a joint venture between Hasbro and Discovery Communications. He also is the chairman of Hasbro’s IP Security Committee, a member of Hasbro’s Global Information Systems Steering Committee, and a Board Member of the Hasbro Children’s Fund.

        Mr. Frascotti was recognized by Forbes Magazine as one of top 5 most influential CMO's amongst the top 500 companies in Forbes Global 2000 Biggest Public Companies list. He is a member of the Board of Directors of the Serious Fun Children’s Network, a global network of camps for seriously ill children, and the Advisory Board of Newman’s Own, which provides high-level advice and assistance on strategic matters to both Newman’s Own Foundation and the food company, Newman’s Own, Inc.

        Before joining Hasbro, Mr. Frascotti served in several senior executive positions at Reebok International Ltd., including Senior Vice President of the Sport Division where he managed the company's largest global business segment, Senior Vice President of Acquisitions and Licensing, and Senior Vice President of Sports Marketing. He also served as President and COO of myteam.com. Mr. Frascotti began his career in entertainment law working at leading law firms including Mitchell, Silberberg & Knupp in Los Angeles and Palmer & Dodge in Boston.

        Mr. Frascotti received his BA in Economics from Yale, where he graduated Phi Beta Kappa and Summa Cum Laude, and his law degree, Cum Laude, from Harvard.

        Lisa K. Klinger , , , Director

        Lisa K. Klinger has been a member of our Board since June 2015. Ms. Klinger is the Chief Financial and Administrative Officer for Ideal Image Development Corporation. From June 2016 through December 2017, Ms. Klinger served as Chief Financial and Administrative Officer for Peloton Interactive, Inc. Ms. Klinger also served as Chief Financial Officer and Treasurer for Vince Holding Corp. from December 2012 through June 2015 and Chief Financial Officer and Treasurer of Kellwood Holding Corp. from December 2012 until November 2013, prior to the Vince Holding Corp. initial public offering and related restructuring transactions. Previously, Ms. Klinger served as Executive Vice President and Chief Financial Officer of The Fresh Market, Inc., a specialty food retailer, from 2009 until 2012. Prior to that, Ms. Klinger served as interim Chief Financial Officer of Michael’s Stores during 2008 and Senior Vice President of Finance and Treasurer from 2005 to 2009. Ms. Klinger previously served as Assistant Treasurer at Limited Brands from 2000 to 2005. She holds a B.S.B.A. from Bowling Green State University.

        Michelle Millstone-Shroff , , , Director

        Michelle Millstone-Shroff has been a member of our board of directors since February 2019. Ms. Millstone-Shroff most recently served as the President and Chief Operating Officer of buybuy Baby, the nation’s leading retailer of items for infants and toddlers, and Chief Customer Experience Officer of Bed Bath & Beyond, Inc. During her fifteen years at Bed Bath & Beyond, Inc., Ms. Millstone-Shroff also served in a variety of senior roles in strategy and business development. Earlier in her career, she worked at McKinsey & Company, with a focus on retail- and consumer-oriented companies. Ms. Millstone-Shroff is a graduate of Harvard Business School, where she earned a Master in Business Administration with distinction, and the University of Pennsylvania, where she earned a dual B.S. summa cum laude in strategic management from The Wharton School and a B.A. in psychology summa cum laude from The College of Arts & Sciences.

        Brad Weston , , , Director and Chief Executive Officer

        Bradley M. Weston became our Chief Executive Officer effective April 1, 2020 and has been a member of our Board since April 2020. Mr. Weston joined the Company as President of Party City Holdco Inc. (“PCHI”) and Chief Executive Officer of Party City Retail Group, in July 2019. Prior to joining the Company, Mr. Weston served as Chief Executive Officer at Petco, where he held several leadership positions of increasing responsibility from 2011 to 2019. Before joining Petco, Mr. Weston held several senior executive positions at Dick’s Sporting Goods from 2006 to 2011, including Chief Merchandising Officer. Mr. Weston currently serves on the Board of Directors of Boot Barn. Mr. Weston holds a B.S. in business administration from the University of California, Berkeley. Mr. Weston’s extensive experience in the retail industry and his roles as Chief Executive Officer here and at Petco led to the conclusion that he should serve as a director of our Company.

        Todd Vogensen , , , Executive Vice President and Chief Financial Officer

        Todd E. Vogensen became our Executive Vice President and Chief Financial Officer in February 2020. Previously, Mr. Vogensen served as Executive Vice President—Chief Financial Officer at Chico’s FAS, Inc. from June 2015 through January 2020. He joined Chico’s FAS in October 2009, and served in roles of increasing responsibility, including Senior Vice President – Finance, and Vice President – Investor Relations. Previously, Mr. Vogensen served in executive finance roles at Michaels Stores, Inc., Gap, Inc., Hewlett Packard Company and PricewaterhouseCoopers LLP. Mr. Vogensen graduated from Arizona State University and holds a B.S. in Accountancy.

        Michael P. Harrison , , , Senior Vice President and General Manager – North American Consumer Products Group

        Michael P. Harrison became our Senior Vice President and General Manager of the North American Consumer Products (“NACP”) Group in 2017, which oversees the Company’s manufacturing, US wholesale, and Asian operations. From 2014 to 2017, Mr. Harrison served as Vice President and General Manager of Amscan, where he oversaw the Company’s U.S. wholesale and Asian operations. From 2010 to 2014, Mr. Harrison served as Vice President of Operations of Amscan. Mr. Harrison joined the company in 2007 as a Senior Financial Analyst in the Amscan Division. Prior to joining the Company, Mr. Harrison spent six years at FactSet Research Systems, which is a provider of financial information and analytical software to investment professionals. Mr. Harrison is a graduate of Hamilton College and holds an MBA from NYU’s Stern School of Business. Mr. Harrison is the son of our Vice Chairman and former Chief Executive Officer, James M. Harrison.

        Denise M. Kulikowsky , , , Chief Human Resources Officer

        Denise M. Kulikowsky became our Chief Human Resources Officer in November 2018. Prior to joining the Company, Ms. Kulikowsky served as the Vice President, Global Human Resources for The Estee Lauder Companies Inc from 2015 to 2018. Before joining The Estee Lauder Companies Inc, Ms. Kulikowsky held several senior human resources positions at Gap Inc. Ms. Kulikowsky has an undergraduate degree in Psychology from Fordham University and a Master’s degree in Counseling from The University of Pennsylvania.

        Board of Directors/Officers Audit Committee Nominating and Governance Committee Compensation Committee
        Alsfine, Joel
        Collins, Steve
        Conroy, Jim
        Creekmuir, Bill
        Fleiss, Jennifer
        Frascotti, John
        Harrison, James M.
        Klinger, Lisa
        Matthews, Norm
        Millstone-Shroff, Michelle
        Weston, Brad
          =   Committee Member   =   Committee Chair

        Party City is committed to ensuring that the views of stockholders and other interested parties are heard by the board of directors or individual directors, as applicable, and that appropriate responses are provided to stockholders in a timely manner. Stockholders and other interested parties may communicate with any of the directors by sending a letter to the director, c/o Secretary, Party City Holdco Inc., 80 Grasslands Road, Elmsford, New York 10523. All such letters will be promptly forwarded to the respective director by the Secretary.

        In addition to regular meetings of the board of directors, Party City’s non-management directors meet in executive sessions without management participation. The board of directors has not formally selected a director to preside over the executive sessions of the non-management directors. Instead, at each executive session, the non-management directors designate a presiding director for the session.

        Supply Chain Disclosure

        Modern Slavery Statement Under the California Transparency in Supply Chains Act and UK Modern Slavery Act

        This Statement describes the activities of Party City Holdco Inc. and its consolidated subsidiaries (collectively, the “Company,” “we” or “our”) to address modern slavery.  We have provided this Statement on a consolidated basis because we employ the same policies and compliance procedures relating to modern slavery across our entire business.  However, most of our consolidated subsidiaries are not subject to the California Transparency in Supply Chains Act or the UK Modern Slavery Act.

        Supply Chain Disclosure

        Business Overview

        We are the leading party goods retailer by revenue in North America and, we believe, the largest vertically integrated supplier of decorated party goods globally by revenue. We have approximately 850 party superstore locations (including franchised stores) in the U.S. and Puerto Rico. We also operate multiple e-commerce sites, principally under the domain name PartyCity.com, and during the Halloween selling season we also operate a network of approximately 250-300 temporary stores under the Halloween City banner.

        back to top

        Addressing Risks of Modern Slavery in our Business and Supply Chain

        We are committed to principles of ethical business practice and recognition of the dignity of others, including responsible labor practices.

        We employ rigorous hiring and employment procedures in our own business.  All of the recruitment agencies and labor brokers that we use have been vetted.  In addition, they are not permitted to charge recruitment or other fees to the employees that we hire through them. 

        In addition, we have established the other policies and procedures discussed herein to mitigate the risks of modern slavery and human trafficking in our supply chains for the products we sell as a wholesaler and in our retail stores. Our approach is to focus on our direct suppliers, since this is the level of the supply chain where we believe that we have the most influence and can therefore be the most effective.

        back to top

        Employee Code of Conduct

        Our Corporate Code of Business Conduct and Ethics (the “Code of Conduct”) applies to our employees, officers and directors. In addition to indicating that employees, officers and directors must comply with all applicable government laws, rules and regulations where the Company operates, which would include those relating to labor practices, the Code of Conduct indicates that we are committed to a work environment in which all individuals are treated with respect and that we prohibit workplace discrimination and harassment. New employees are provided with a copy of the Code of Conduct upon hire, which each employee must sign and acknowledge. A copy of the Code of Conduct is also available on the Company Intranet and on the Investor Relations page of the Company’s website at www.partycity.com. Failure to comply with the Code of Conduct may result in disciplinary action, up to and including termination of employment with the Company. For a copy of the Code of Conduct, please see here.

        back to top

        Human Rights Policy Statement

        We have also adopted  a Human Rights Policy Statement (the “Human Rights Policy”), which applies to our employees and our business partners, including our suppliers. The Human Rights Policy is a statement of our principles and commitments to labor rights and working conditions, ethical business practices and responsible sourcing. These principles and commitments include treating employees with respect and dignity, not tolerating human trafficking, slavery or forced labor and ensuring a safe, healthy and fair workplace. The Human Rights Policy complements our other policies and affirms our respect for human rights.

        back to top

        Supplier Policies

        Our Vendor Standards Manual (the “VSM”), which is applicable to all of the Company’s suppliers, contains a Supplier Code of Conduct (the “Supplier Code”). It also incorporates the Human Rights Policy.

        The Supplier Code expressly prohibits the use of any form of child labor or forced or involuntary labor, including prison, bonded, indentured or otherwise, in any stage of the manufacture of our products. In addition, the Supplier Code provides that our suppliers must comply with all laws and regulations regulating local wages, work hours and benefits, including those relating to minimum wages, overtime, maximum hours, piece rates and other elements of compensation. The Supplier Code also indicates that employees are to be provided with a safe and healthy workplace in compliance with all applicable local  laws and regulations. The same standards of health and safety are required to be applied in any employee housing that is provided.

        We communicate the Supplier Code initially as part of our supplier onboarding process and thereafter periodically from time to time, including by electronic correspondence when there are updates. Our suppliers are required to certify compliance annually with the Supplier Code. In addition, the Supplier Code prohibits our suppliers from using subcontractors without our approval, and our approval is conditioned on such subcontractors signing a written agreement indicating compliance with the Supplier Code. We do training with our suppliers on the Supplier Code in addition to the internal training that is done by our suppliers. Such training is verified by independent, third party auditing firms.

         In the event of a violation of the Supplier Code, we reserve the right to either terminate our relationship with the supplier or to work with the supplier to implement corrective action to remedy the non-conformance. 

        For a copy of the VSM, including the Supplier Code, please see here.

        back to top

        Supplier Compliance Assessments

        Supplier On-boarding.  As part of onboarding a new product manufacturer, [we conduct a risk profile assessment, and based on such assessment we may conduct a survey of the manufacturer’s relevant facilities]. Among other things, the inspection and questionnaire is designed to help us determine the manufacturer’s compliance with our VSM and Supplier Code.  In connection with our assessment, we take into account the manufacturer’s geographic location(s) and the nature of its manufacturing activities for us and whether these present a greater risk of modern slavery.

        Factory AuditsFactory audits of selected manufacturers are conducted on our behalf by independent third-party auditors, including Intertek, SGS, Bureau Veritas and Elevate. The auditors conduct both announced and unannounced audits.

        Third-party manufacturers are selected for audits each calendar-year based on an internal risk assessment, the results of prior audits and any requirements of our licensors or third-party retailer customers. As part of the audit, the independent third-party auditor evaluates, among other things, a manufacturer’s compliance with wage, hour and labor laws and health, safety and environmental regulations, as well as the working and other conditions within the facility. During the audit, the independent third-party auditor will visit and inspect the site, conduct interviews with supervisors, managers and workers of the facility, and review relevant books and records of the manufacturer.

        In most instances, where a deficiency is identified, corrective action is required on a specified timeline, followed by a re-audit of the manufacturer to demonstrate that such deficiency has been remedied. In the case of a serious violation of the Supplier Code, termination of the Company’s relationship with the manufacturer may occur, particularly where corrective action is either not possible or determined to be an insufficient remedy.

        back to top

        Internal Accountability and Training

        All employees are required to undergo compliance and ethics training, including with respect to the Code of Conduct and Human Rights Policy, upon hire and annually thereafter.  Furthermore, all employees and management who have direct responsibility for supply chain management are expected to identify and address supply chain risks, including the risks of modern slavery in supply chains.

        Employees are encouraged to raise any concerns and have multiple channels to do so, including through an ethics hotline staffed by independent third-party operators, which is available at (888)270-5937 or www.partycity.ethicspoint.com. The Company’s ethics hotline is also made available for external stakeholders at (888)270-5937 or www.partycity.ethicspoint.com.

        back to top