Target Commits To Spending Over $2 Billion With Black-Owned Businesses By 2025 - Quick Facts

(RTTNews) - Target Corp. (TGT) announced Wednesday a commitment to spend more than $2 billion with Black-owned businesses by the end of 2025, such as marketing agencies, construction companies, facilities maintenance and more.

Target is pledging to add products across its multi-category assortment from more than 500 Black-owned businesses and engage more Black-owned companies to enhance its retail operations and shopping experience.

In addition to spending more with Black-owned companies, Target is introducing new resources to help its Black-owned vendors grow and successfully scale their businesses in mass retail.

This announcement is a part of Target's commitment to social justice and racial equity. Last year, Target established its Racial Equity Action and Change (REACH) committee composed of senior leaders from across the company to engage in the fight to end systemic racism in the U.S. and drive lasting impact for the Black community.