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Dive Brief: Following up on its promise to help Black guests feel more included, Target on Wednesday announced its commitment to spending $2 billion with Black-owned businesses by 2025. The retail giant plans to work with over 500 Black-owned businesses to add products across different categories, according to a company press release. Target said it also intends to boost its spend with Black-owned firms in other areas such as marketing agencies, construction companies and facilities maintenance providers. Alongside the investments, Target plans to create new resources, including a program ca...

MINNEAPOLIS, April 7, 2021 /PRNewswire/ -- 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...

Target to spend more than $2B at Black-owned businesses ANNE D'INNOCENZIO, AP Retail Writer April 7, 2021 FacebookTwitterEmail FILE - In this April 6, 2020 file photo, a customer wearing a mask carries his purchases as he leaves a Target store during the coronavirus pandemic, in the Brooklyn borough of New York. Target says it will spend a a total of more than $2 billion at Black-owned businesses by 2025 as part of its effort to advance racial equity. As part of its program, the Minneapolis-based discounter will add products from more than 500 Black-owned businesses across all types of merch...

Support for Black businesses Target said it is establishing resources to support Black-owned businesses and help them grow. One of the programs, Forward Founders, 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."  Through existing programs like Target Accelerators and events like the Black-Owned Business Vendor Fair, Target says it has previously brought in diverse businesses. On its website, Target said between 2016 and 2018, it has increased "business with diverse supp...

"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," chief growth officer Christina Hennington said in a news release. The killings of George Floyd, Breonna Taylor, Ahmaud Arbery and protests across the country have ratcheted up pressure on corporate leaders to advance racial equity and do more than simply cut a check — or risk losing business. The uneven death toll of the coronavirus pandemic and financia...