Here's what you need to know about the 15 Percent Pledge.
Author:Ana ColónPublish date:Jun 4, 2020As fashion and beauty companies continue to respond to the ongoing police brutality protests happening around the world — whether it's through monetary donations to anti-racism organizations or by lending their platforms to promote Black creators — Brother Vellies founder Aurora James has an action plan to support Black-owned businesses in the long term.
By committing to the 15 Percent Pledge, James continued, these retailers could offer Black-owned businesses immediate financial support , and also help Black entrepreneurs secure funding from banks and investors to continue to grow their companies and market share. 1) Auditing and taking stock of where you are at. Look at your existing shelves, hangers, boardrooms and receipts. How many Black-owned businesses are you buying? How many Black women are in your C-suite? Do that work.
"I'm not asking these companies to buy random products just because they're Black-owned," James explained to Fashionista. "Of course, continue to do research and evaluate which Black-owned businesses work for [you.] We're just asking big business to invest in the future of the Black community. Many Black people choose to spend money with these businesses. Their stores are set up in our communities. Their sponsored posts are targeted to us.
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