Some have taken Aurora James's 15 Percent Pledge; others have set aside funds to buy specifically from Black-owned businesses.
Author:Ana ColónPublish date:Jun 10, 2020When Aurora James first shared her idea for what would officially become the 15 Percent Pledge — a 501 non-profit that calls on major retailers to ensure that at least 15% of the products on their shelves are from Black-owned businesses — she specifically turned her attention to a handful of retailers, including Whole Foods, Target, Walmart, Saks Fifth Avenue, Net-a-Porter and Sephora. Less than two weeks later, one of them has officially signed on.
To start, Sephora will open up its connections and resources, such as access to potential funders and venture capitalists, to aspiring founders and aid in the launch and development of their businesses, the company said on Instagram. It will also tap into its existing Accelerate incubator program to focus on projects from women of color.
Earlier this month, Rent the Runway said it would earmark $1,000,000 to support Black-owned fashion businesses through both wholesale and co-manufacturing initiatives. "It is critically important to us that a significant portion of our [$1,000,000] goes towards launching fashion brands from Black designers who have not had the investment capital to launch on their own," an Instagram post announcing the effort read.
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