By Karen Stokes
Fashion designer Aurora James, founder of the 15 Percent Pledge (Photo/15 Percent Pledge)
The Fifteen Percent Pledge is a nonprofit organization established in 2020. Its aim is to encourage prominent retailers to allocate fifteen percent of their shelf space to Black-owned brands, reflecting the fact that fifteen percent of the U.S. population is Black.
This initiative invites retailers to respond to their community’s desires for diversity and economic equality. By embracing the pledge, retailers embark on a journey of mutual growth and learning, guided by a sustainable model for long-lasting transformation.
Latoya Williams-Belford, executive director said, “Our founder, Aurora James, after the killing of George Floyd said we are talking about a lot of systemic issues, let’s focus on some tactical solutions. If we can work to close the racial wealth gap in America. It’s good economics and particularly for the Black community the more dollars we can infuse supporting Black entrepreneurs we can start to talk about solutions for other social issues like homeownership, better education, better access to a variety of things.”
James reached out to the world’s biggest retail brands, urging them to ensure equitable representation of Black individuals on their shelves.
Latoya Williams-Belford, Executive Director
(Photo/15 Percent Pledge)
“The Fifteen Percent Pledge is a call to action for major retailers and corporations to join us in creating sustainable and supportive ecosystems for Black-owned businesses to succeed. We work with companies to comprehensively re-evaluate their org structures, ways of working, funding, and resourcing in order to implement meaningful change and create greater equity for Black businesses,” James said.
The foundation conducts audits, shares its database of Black-owned businesses, and offers business development strategies to participating companies.
With the involvement of more than 28 retailers, the 15 Percent Pledge has facilitated a redirection of nearly $14 billion in revenue toward Black-owned businesses. The list of participants includes well known names such as Athleta, Banana Republic, Bloomingdales, CB2, Gap Inc., Macy’s Inc., Nordstrom, Sephora, Ulta, Vogue Magazine, and others.
The goal is $1.4 trillion of wealth generated by Black entrepreneurs by 2030.
For more information on 15 Percent Pledge, go to 15percentpledge.org.