02 Jul Foot Locker Commits $200 Million To Support Black Community
Foot Locker Inc. will invest $200 million over the next five years to support the black community through investments in black-owned businesses within youth culture, purchases from more products from black-owned brands and donations to organizations that create economic development and advancement opportunities for minorities.
The retailer also pledged to implement internship, mentorship and community outreach programs for black team members and communities; fund training for black creatives at Pensole Footwear Design Academy, and extend its Foot Locker Scholar Athletes program to benefit additional students of color.
A letter from CEO Richard Johnson on the commitment follows.
A Message to Our Foot Locker Community from CEO Richard Johnson
We stand resolute in our commitment to fight racial inequality and injustice. This commitment extends beyond words. It is part of our culture and the way we operate as an inclusive and diverse organization. We recognize that Black Culture plays a pivotal role in shaping Sneaker Culture – the foundation of our business at Foot Locker, Inc. We believe we have an obligation to add our voice and actions to drive meaningful and lasting change across our company and within the communities we serve.
Today, we are announcing that Foot Locker, Inc. is committing $200 million over the next five years towards enhancing the lives of our team members and our customers in the Black Community through Economic Development and Education. This commitment will manifest in many ways and across many parts of our business with plans built to have staying power long beyond five years. Our efforts will include:
- Invest in Black-owned businesses within youth culture
- Purchase more products from Black-owned brands
- Donate to organizations creating economic development and advancement opportunities for minorities – many of which will be based in the communities we serve
- Increase marketing spend with Black-owned companies, entrepreneurs, creators and collaborators
- Diversify global supplier and agency investments to Black-owned businesses
- Extend our existing Foot Locker Scholar Athletes program and other partnerships to benefit additional Black students
- Fund training for Black Creatives at Pensole Footwear Design Academy
- Implement internship, mentorship, and community outreach programs for Black team members and communities
- Invest in relevant education programs for Black team members with our Black Employee Resource Group called B.U.I.L.D
- Direct a portion of the funding from Foot Locker Foundation’s annual “On Our Feet” gala to beneficiaries supporting the Black community, including building upon our long-standing partnership with UNCF
We will hold ourselves accountable by pledging our transparency and by publishing an annual report card on our commitment and progress.
We stand with those who are working towards eliminating the deep racial inequities that exist today. We are committed to leveraging our platform to mobilize, unite, empower, and inspire our team members and customers across the globe.
The time for action is now.
Chairman & CEO
Foot Locker, Inc.