WENATCHEE - The Target store in Wenatchee along with other stores across the United States have made a pledge to spend $2 billion on Black-owned businesses by 2025. Target corporate made the announcement on Wednesday, April 7.
“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,” said Christina Hennington, executive vice president and chief growth officer, Target. “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.”
As part of its commitment, retailer plans to:
- Add products from more than 500 Black-owned businesses across its multi-category assortment
- Increase its spend with more Black-owned companies, such as marketing agencies, construction companies, facilities maintenance and more
- Establish new resources, including the Forward Founders program, to support Black-owned companies and help them grow their businesses
The effort is part of Target’s new Forward Founders program. This program will engage Black entrepreneurs earlier in their startup journey to help them navigate the critical stages of ideation, product development and scaling for mass retail. With increased access to subject matter experts and educational workshops earlier in the startup process, Forward Founders is designed to help Black-owned businesses increase their potential for long-term success in retail.