Created: April 07, 2021 09:06 AM
NEW YORK (AP) — Target will spend a total of more than $2 billion at Black-owned businesses by 2025 as part of its effort to advance racial equity.
That's a significant increase in overall spending on Black-owned businesses, according to Target, though it declined be more specific Wednesday.
The Minneapolis-based retailer will add a broad spectrum of products from more than 500 Black-owned businesses and will increase its spending at more Black-owned companies, from marketing to construction. It will also introduce new resources, like a dedicated team to help Black-owned suppliers scale their businesses to work with mass chains.
The Forward Founders program builds off Target's accelerator program that helps entrepreneurs.
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