April 14, 2024

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Retail Giant Target is on Target To Spend Billions on Black Businesses & Their Expansion Through 2025

Retail giant Target has pledged to spend more of it’s millions, more than $2 billion, with Black-owned businesses by the end of 2025, according to the retail giant’s press release.

This is big news for Black businesses because Target will add more Black owned products over many categories which will help grow Black businesses in mass retail. Historically, Black businesses have been overlooked by the large, majority white population in America, making it difficult for Black businesses to gain footing in many areas.

Target’s executive vice president and chief growth officer Christina Hennington stated that the company wants do more to “spark change” in retail across the board and “advance racial equity for the Black community.”

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Not only that, Target will devote a team to “providing vendors with ongoing support” for the expansion of their Black businesses across mass retail through a new program called Forward Founders. This program will “engage Black entrepreneurs earlier in their startup journey” for long term success in retail.

Find out more on how your Black Business can partner with Target here.