Foot Locker Provide Update on $200 Million Pledge to Support Black Communities
Amid the George Floyd riots of 2020, Foot Locker announced a planned investment of $200 million into the Black community. Designed to roll out over five years, the initiative is well in motion, with the sneaker retailer providing an update on proceedings.
Promising transparency throughout the process, Foot Locker have revealed progress in their initiative entitled LEED (Lead Education and Economic Development). One of the key elements of the LEED initiative is economic development and creating a stronger pipeline for Black creators and entrepreneurs to build successful businesses. To support, Foot Locker has committed a $5 million investment in MaC Venture Capital, a Black-led VC firm dedicated to advancing business with diverse leaders. On top of this, Foot Locker have also partnered with 34 new Black brands and creators for collaborations in 2021, this includes growing their ongoing relationship with Pensole Footwear Design Academy.
Closer to home, Foot Locker are creating educational and professional opportunities for their store employees, many of whom are high school and college students. To do so, 50 additional Foot Locker Associate Scholarships – totalling $250,000 – will be provided to Black team members over the next five years.,
The company ensures this is just the tip of the iceberg. You can read to full breakdown of Foot Locker’s investments so far, here.
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