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Target Formalizes Support of Black-Owned Businesses

The retailer will invest $2 billion to support brands, entrepreneurs

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Target (Minneapolis) has committed to spend more than $2 billion with Black-owned businesses by the end of 2025, according to a company press release.

“The bold actions we’re announcing today reflect Target’s ongoing commitment to advance racial equity for the Black community. They also represent significant economic opportunity for hundreds of new Black-owned companies, who we look forward to doing business with for years to come,” said Christina Hennington, executive VP and chief growth officer for Target.

The investment will include the addition of products from more than 500 Black-owned brands as well as the engagement of more Black-owned companies to enhance the retailer’s operations and in-store experience. Target will also offer new resources to support Black-owned companies based on its existing Target Accelerators program for entrepreneurs.

Jennifer Acevedo is the editor-in-chief and associate publisher of VMSD magazine.

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