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Target Progresses on Investing $2 Billion in Black-owned Businesses

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In April of 2021, Target made a commitment to spend  $2 billion with Black-owned businesses by 2025. The general merchandise retailer vowed to expand the number of Black-owned brands available in Target stores as well as spend more with Black-owned suppliers. Target plan is exemplifying their purpose through an end goal that creates more equitable experiences for Black guests, obtains new resources for Black entrepreneurs, and harnesses the full impact, scale, and size of their economic resources.

Today, Target is honoring their dedication to these goals and upholding transparency. They are launching a new media fund initiative through an in-house media company, Roundel. Since 2020, Target’s spending budget in conjunction with Black-owned companies and suppliers has increased by over 50 percent. Additionally, the number of Black-owned brands across their assortment has doubled to more than 100. Target’s clarity in their endeavors moving forward keeps power in the hands of their mission. The Roundel Media Fund, which serves to offset the cost of marketing programs at Target will award over  $25 million in media to Black, Indigenous and people of color (BIPOC) brands by 2025. 

In May, Target announced ‘Forward Founders’, the accelerator program for early-stage CPG companies looking to better understand retail. It’s designed to help historically under-resourced founders be the next wave of wealth-building companies. 

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A closer look at some of Target’s progress since the start of this initiative includes over 30 Black entrepreneurs supported through Forward Founders, over 2,000 underrepresented entrepreneurs have been granted access to free resources through Target’s virtual Forward Founders program, over 100 Black-owned brands are now available at Target across every major category, a 65% increase in Black-owned beauty brands at Target over the past year, and over 200 books from Black authors added to this assortment over the last year. 

The post Target Progresses on Investing $2 Billion in Black-owned Businesses appeared first on The Source.

Rotimi Travels To The Dead Sea For Launch Of New Unisex Skin Care Line

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Singer and actor Rotimi has been known as a jack of all trades. Having been successful in every project he touches, whether on the mic or behind the camera, the creative is known to put his all into everything he does, hence the name of his debut album All Or Nothing. Rotimi has shifted gears towards his entrepreneurial pursuits to curate skin essentials to protect and restore natural glow with the launch of his unisex skin care line, FAVR.

To celebrate the launch, Rotimi traveled to the Dead Sea, one of the main inspirations in the development of the line, where the product is also enriched with minerals from the illustrious sea of salt itself. Rotimi also went live to announce the launch to the world. FAVR is available now for purchase online. 

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“I wanted to progress to a new level and share with the world something that means so much to me. As many know I take pride in my health and daily routines and traveling on the road as much as I’m blessed to do, my skin takes a huge hit with climate changes. I took a hands-on active role turning a sketch comedy joke with Mr. Buttascotch and his notorious face mask, to creating a product line solely focused on the nourishment of the skin and face. I’m excited to share that with everyone, especially the products roots to the Dead Sea, and help with rejuvenating a natural glow for people.” 

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Developed in partnership with Cre8or Global, an innovative industry leader in developing beauty, health and wellness brands for talent and their communities of supporters who have often been overlooked in this space, it was Rotimi’s goal for the line to cater to individuals with various skin tones who may struggle finding a product that was made for them. FAVR embodies everything the singer stands for and is made special for the individual who exudes an inner confidence that pours through to the outer body with pride in health and wellness and grooming habits. It is a line built to protect and restore skin with products including Charcoal Skin Cleanser, Moisturizing Balm, Exfoliating Rub, Dead Sea Mineral Mask, and an Anti-Fatigue Eye Cream. FAVR products start at $19.00, bundle deals range from $34.00 to $116.00

The post Rotimi Travels To The Dead Sea For Launch Of New Unisex Skin Care Line appeared first on The Source.