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Big-box retailer Target is committing to spend more than $2 billion with Black-owned businesses by the end of 2025, the company announced today.
Top line
The value-oriented department store chain is pledging to place products across multiple categories on its shelves from more than 500 Black-owned companies. It will also make resources available to such vendors to help them grow in mass retail.
In addition, Target will tap Black-owned businesses to improve its retail operations and shopping experience.
Between the lines
The $2 billion pledge builds on the retailer’s existing initiatives, such as Target Accelerators, which help entrepreneurs drive innovation, and the Black-owned business fair event, which connects the banner with vendors that have products ready to sell.
The
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