Target to spend over $2B with Black-owned companies by 2025
by Sherri Kolade
Target announced recently to spend over $2 billion with Black-owned businesses by the end of 2025, Black Enterprise reported.
Target made the pledge to add more products to its shelves from over 500 Black-owned businesses and work with more Black retail companies to enhance retail operations and shopping experiences, according to the article. Target will also introduce new opportunities to assist its Black-owned resources in growth for their businesses.
Those resources entail a new team geared to giving vendors support to help propel Black-owned companies optimize their brands in mass retail as part of a new program created by Target called Forward Founders.
“We have a rich history of working with diverse businesses, but there’s more we can do to spark change across the retail industry, support the Black community and ensure Black guests feel welcomed and represented when they shop at Target,” Christina Hennington, executive vice president and chief growth officer at Target said in a release.
“The bold actions we’re announcing today reflect Target’s ongoing commitment to advance racial equity for the Black community. They also represent significant economic opportunity for hundreds of new Black-owned companies, who we look forward to doing business with for years to come.”