Major retailers bring $14 billion in revenue to Black-owned brands
Publishing timestamp: 2023-08-11 15:38:24
Summary
The article discusses how major retailers and brands, including Nordstrom, Macy's, Sephora, Ulta Beauty, and others, have partnered with the nonprofit organization Fifteen Percent Pledge to drive $14 billion in revenue to Black-owned businesses since May 2020. The pledge asks companies to dedicate 15% of their shelf space to Black-owned brands, with the goal of generating $1.4 trillion in wealth for Black entrepreneurs by 2030. The article also mentions the success stories of Black-owned brands that have benefited from the pledge, and the challenges and pushback faced by corporate diversity, equity, and inclusion initiatives.
Sentiment: MIXED
Tickers: ULTA, BUD, ABI-BE, JWN, M,
Keywords: macy's inc, retail industry, breaking news: business, ulta beauty inc, anheuser-busch inbev sa, business news, nordstrom inc,