Black Privilege: Target to spend more than $2 billion at Black-owned businesses in racial equity push

Apr 11, 2021

Target will spend 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 the retailer declined to be more specific Wednesday.

The Minneapolis-based company said it will add a broad spectrum of products from more than 500 Black-owned businesses and will increase its spending at more Black-owned vendors for the 1,900-store chain, 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 retail chains. The Forward Founders program builds off Target’s accelerator program that helps entrepreneurs.

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