Capital
Best Buy to Spend $1.2 Billion With Diverse Businesses by 2025
Big U.S. corporations make pledges to racial justice a year after last summer’s Black Lives Matter protests.
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Best Buy Co. says it will spend at least $1.2 billion with businesses owned by Black, Indigenous and other people of color by 2025, as U.S. companies expand pledges toward racial equity a year after last summer’s protests.
The money will go to suppliers, advertising, and media. The electronics retailer will send 10% of its media spend to BIPOC media and it also committed to requiring diverse production crews and cast members in at least 30% of its paid advertising. Best Buy didn’t specify how much money it would allocate to specific parts of the supply chain or vendors.