Image source: Instagram @TeamTarget
Target Corporation (NYSE: target) Added products from more than 500 black-owned brands announced on Wednesday, spending more on black-owned companies such as marketing and construction companies, and launching support and mentoring programs for black-owned companies. I will.
Minneapolis-based roadside retail chains haven’t identified current overall spending on black-owned businesses, but said they plan to increase that number and spend more than $ 2 billion by 2025. I did.
so Press releaseChristina Hennington, Target’s Chief Growth Officer, said: At the target. “
These changes include the addition of a wide range of products from more than 500 black-owned companies and increased spending at more black-owned companies such as marketing agencies, construction companies and facility maintenance companies.
The chain also states that it will introduce new resources such as a dedicated team to help black-owned companies grow their companies to work with larger chains. This is an effort to build Target’s existing Forward Founders program to help entrepreneurs.
“The bold actions we announce today reflect Target’s ongoing commitment to promoting racial equality in the black community, and we look forward to doing business for hundreds of new black-owned companies. It’s also an important financial opportunity for us for years to come. “
Wednesday’s announcement by Target Pledge Increase the number of black employees by 20% over the next three years.The chain and its foundation Involved Donate $ 10 million to a non-profit organization focused on addressing the barriers of the black community.
For the past year, Nike Inc (NYSE: NKE), Walmart Inc (NYSE: WMT) And Ulta Beauty Inc (Nasdaq: ULTA) Original announcement PledgeGive more shelving space to black-owned products, evaluate how recruitment and promotion takes place, put more blacks in your ads, and more.
More than 20 retailers, including Sephora, Macy’s and The Gap, 15% pledgeWe strive to make the number of black-owned products on store shelves proportional to the country’s black population.
Source: Stock news