Press Release

Target Commits to Spending More Than $2 Billion with Black-Owned Businesses by 2025

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 Target Corporation (NYSE:TGT) today announced a commitment to spend more than $2 billion with Black-owned businesses by the end of 2025.

Published: Apr 7, 2021 10:07 AM

By Jeanel Alvarado

Press Release

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Press Release

Target Commits to Spending More Than $2 Billion with Black-Owned Businesses by 2025

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

Target Corporation (NYSE:TGT) today announced a commitment to spend more than $2 billion with Black-owned businesses by the end of 2025. Target is pledging to add products across its multi-category assortment from more than 500 Black-owned businesses and engage more Black-owned companies to enhance its retail operations and shopping experience. In addition to spending more with Black-owned companies, Target is introducing new resources to help its Black-owned vendors grow and successfully scale their businesses in mass retail.

“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.” Forward Founders To further support Black-owned businesses, Target is establishing new resources, including a team that is dedicated to providing vendors with ongoing support and assisting them in growing and successfully scaling their businesses in mass retail.

Building off the success of Target Accelerators, a portfolio of programs supporting entrepreneurs to drive innovation and instigate change, the company is introducing a new program called Forward Founders. This program will engage Black entrepreneurs earlier in their startup journey to help them navigate the critical…

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