Corporate Leadership
Target to Spend $2 Billion With Black-Owned Firms by 2025
- Retailer says it will add products from 500 Black businesses
- Commitment comes amid George Floyd murder trial in Minneapolis
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Target Corp. will spend more than $2 billion with hundreds of Black-owned businesses by the end of 2025, making the pledge as its home city of Minneapolis is grappling with the murder trial of the former city police officer who killed George Floyd.
The cheap-chic retailer will also add products from more than 500 Black-owned companies across its aisles and help Black vendors expand their sales in big-box retail, it said in a statement Wednesday. Target currently carries more than 65 Black-owned brands, but declined to say what it currently spends with such companies.