Target Set To Spend Over $2 Billion At Black-Owned Businesses By 2025 To Advance Racial Equity - The Shade Room

Target Set To Spend Over $2 Billion At Black-Owned Businesses By 2025 To Advance Racial Equity

#Roommates, we’ve all likely experienced that amazing feeling when you embark on an unexpected Target run and come away with more than you bargained for—well now, the company is doing its part to contribute to the Black community. It has just been announced that Target has pledged to spend more than $2 billion at Black-owned businesses within the next four years to advance racial equity.

@ABCNews reports, Target is proving its faith and support in Black-owned businesses. The wildly popular retailer recently announced it plans to spend over $2 billion at various Black-owned businesses by 2025. The commitment is an effort on behalf of Target to advance racial equity. Additionally, the company is also set to add a wide spectrum of products from more than 500 Black-owned businesses—while increasing company spending at more Black-owned companies, from the marketing process all the way to construction.

That’s not all, as Target is stepping up in even more ways, by introducing a host of new resources for the selected companies—including an expert team specifically formed to assist Black-owned suppliers scale their businesses to work with mass chains. Titled the Forward Founders program, it builds upon Target’s accelerator program created to help entrepreneurs.

Christina Hennington, Executive Vice President and Chief Growth Officer of Target, spoke about the company continuing to actively pursue more minority-owned business connections.

“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,” she said.

 

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