Target has announced progress made towards its Racial Equity and Change commitment to spend over $2 billion with Black-owned businesses by 2025. Target now offers more than 100 Black-owned brands and has increased investments in Black-owned products, businesses, and suppliers by about 50 percent compared to 2020., when the effort was launched.
“At Target, our commitment to supporting Black-owned companies and advocating for racial equity touches 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, Target executive vice president and chief growth officer, and founding REACH committee member, in a statement. “While there’s more to be done, our team has approached this critically important work with passion and conviction, and we are on track to meet the goals we established to advance racial equity through the full impact of our company.”
A new pledge was included in Target’s update: the New Roundel Media Fund. This fund intends to provide over $25 million in media through the company’s in-house media company, Roundel, to BIPOC vendors. The fund intends to offset marketing program costs for these brands.
“We’re proud to build on the work we’ve done to invest in the growth of BIPOC-owned businesses, showing up in ways that inspire and add value to the way our guests learn about our products and shop at Target,” said Sarah Travis, president of Roundel, in a statement.
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