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☆ Black Business Month: Major retailers drive $14B of revenue to Black-owned brands
▼ + stars: | 2023-08-11 | by ( Brandon Gomez | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBlack Business Month: Major retailers drive $14B of revenue to Black-owned brandsNordstrom, Macy's, Sephora, Gap & Ulta Beauty among the retailers who have taken the '15 Percent Pledge', dedicating 15% of their annual purchasing power and shelf space to Black-owned brands. Brandon Gomez speaks with '15 Percent Pledge' Executive Director LaToya Williams Belfort about the organizations work to close the racial wealth gap and plans to drive $1.4 trillion of wealth generation to Black entrepreneurs by 2030.

Persons: Brandon Gomez, LaToya Williams Belfort Organizations: Nordstrom

☆ Major retailers bring $14 billion in revenue to Black-owned brands
▼ + stars: | 2023-08-11 | by ( Brandon Gomez | ) www.cnbc.com time to read: +2 min

Major retailers and brands have driven $14 billion in revenue to Black-owned businesses since May 2020. The group asks companies to reflect the Black community that makes up 15% of the U.S. population by dedicating 15% of their shelf space to Black-owned brands. Prior to taking the pledge, many of the group's current partners had less than 3% of their shelf space dedicated to Black-owned brands. Now all partners are committed to attaining their 15% pledge over a 10-year contract. Fifteen Percent Pledge has committed to generating $1.4 trillion in wealth for Black entrepreneurs by 2030.

Persons: Nordstrom, LaToya Williams Belfort, Sephora, Aurora James, George Floyd's, James, InStyle Organizations: Federal, CNBC, JUST Capital, Vogue Locations: Brooklyn, Black, U.S

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