Foot Locker is joining in on the fight against racial inequality and injustice following the murder of George Floyd, by announcing a $200 million pledge in support of Black communities in America.
“We stand resolute in our commitment to fight racial inequality and injustice,” said Foot Locker Chairman and CEO, Richard Johnson. “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.”
The donation will be distributed throughout a five-year span and will focus on enriching economic development and education in the communities. On the economic development side, the retailer will be purchasing more products from Black-owned brands, investing in additional Black-owned businesses, and more.
After announcing the recipients for this year’s Foot Locker Scholar Athletes program, the retailer has now revealed that future classes will benefit additional Black students.
UPDATE (02/23): After announcing its $200 million commitment in June, Foot Locker has shared updates on its pledge. Since June, the retail giant has invested $5 million in the Black-led MaC Venture Capital, provided an additional 50 Foot Locker Associate Scholarships to Black team members over the next five years, as well as doubled the number of scholarships for the 2020-2021 academic year to UNCF. In addition, Foot Locker created 30 new internships through its Bridge Internship Program, partnered with34 new Black brands and creators for future collaborations, and lastly, announced a $750,000 commitment to PENSOLE, building the next generation of Black designers. Expect additional donations from Foot Locker to be announced throughout the next four years.