As part of its strategy for action and change in racial justice, Target plans to spend more than $ 2 billion on black-owned companies over the next three years and represents the Roundel Media Fund, which by 2025 will publish more than $ 25 million in media to various brands owned and founded through its own media company .
According to a press release, in 2021 the retailer has set goals to promote racial justice, including investing 50% plus investing in black-owned businesses.
“At Target, our commitment to supporting black-owned companies and upholding racial justice affects every aspect of our business – including investing in underrepresented entrepreneurs, launching black-owned brands at Target, working with black designers and suppliers, and increasing visibility through our marketing, ”said Christina Hennington, Executive Vice President and Development Director of Target, and a member of the founding committee of REACH.
“While more remains to be done, our team has approached this critical work with passion and conviction and we are on track to achieve the goals we have set for promoting racial justice through the full impact of our campaign. We will continue to provide Black businesses owned , take a seat at the table to make all guests feel welcomed and represented when they shop at Target, and we will bring transparency to the progress we are making to create lasting change for retailers and beyond. ”
https://www.retailcustomerexperience.com/news/target-spending-2b-with-black-owned-businesses/ The goal is to spend $ 2 billion on a business owned by blacks