NEW YORK — Aurora James, founder of the 15 Percent Pledge, was quite specific in calling out several major U.S. retailers that have not yet made the pledge to her nonprofit.
In 2020, following the murder of George Floyd, sparking the Black Lives Matter movement, James created the 15 Percent Pledge organization, which encourages retailers to pledge at least 15 percent of their shelf space to Black-owned businesses while offering consulting services to Black businesses. It’s like an intermediary helping retailers and Black businesses get together.
Sephora was the first retailer to sign a contract with 15 Percent Pledge. Nordstrom, Hudson’s Bay, Gap, Crate & Barrel, Macy’s Inc., InStyle U.S., Rent the Runway, West Elm, Moda Operandi, Yelp, J. Crew, MedMen and Kith, as well as Vogue U.S. and Next Model Management, followed, among others.
“So now we have 28 corporate partners, each with a unique tailored commitment to shift their practices and polices to better reflect and include Black designers, employees and customers,” James said at 15 Percent Pledge’s first fundraiser held Saturday night at the New York Public Library.
“All of them have signed contracts with us and by the way, between those partners we have shifted more than $10 billion to Black-owned businesses and entrepreneurs. That investment is a true game changer for Black business owners who can hire, invest and scale their operations to create even more incredible products for retail shelves and in turn support their communities.
“But there are a handful of major retailers who have not yet found the courage to take the pledge — Walmart Inc., Kroger, Target Corp., Amazon Inc., Whole Foods and CVS.”
If those six retailers took the pledge, along with the 28 corporations that already have: “We would be able to drive $1.4 trillion to Black businesses and the Black community,” James said.
For the $10,000 per seat event, which drew a crowd of 200, the dress code was black-tie, Black designer. Dapper Dan presented (by video) Stacey Abrams, who is running for governor of Georgia, with the Inspiration Award for leadership in the community as a politician, lawyer, voting rights activist, author and Black entrepreneur. Tamron Hall presented Iman with the Industry Pioneer Award for her leadership in the community as a model, actress, entrepreneur and philanthropist.
Guests included Gap’s Mark Breitbard, The Bay’s Laura Janney, Joan Smalls, CFDA’s Steven Kolb, Paloma Elsesser, Rosario Dawson, Laura Harrier, Allyson Felix, Selah Marley, Cameron Russell, Peter Do, Dominique Jackson, and Nicole Ari Parker, who hosted the evening. Instagram, where James first launched 15 Percent Pledge in June 2020, sponsored the evening.
“I’ve been daydreaming about this moment for months and cannot believe it’s finally here. Ninety-nine point nine percent of you I haven’t seen in two years,” said James, who is also the creative director of Brother Vellies. “You all so beautiful in your black-tie, Black designer moment. I have to tell you the work we had to find Black designers to wear black tie really opened up our eyes. We all assumed it to be easy, but it was a little harder than we expected because they are still under-represented.”
“I never could have imagined the progress we made in less than two years. The response from retailers was fast and many of you know Sephora was the first company to make the pledge. Earlier, when I saw the Sephora team here I burst into tears. Their bravery in picking up the phone and committing to doing it will never be forgotten.”
“It’s really about economic justice and supporting Black entrepreneurs,” LaToya Williams Belfort, executive director of 15 Percent Pledge, said during the cocktail hour. “We’re doing really well and we have been doing this work for only two years. This is just the beginning.”
“Only 1.3 percent of venture capital funding went to Black-owned businesses and Black entrepreneurs last year. That number has to change,” said Emma Grede, chairwoman of the organization.
Grede said 15 Percent Pledge has a very orderly process involving quarterly audits to measure how retailers are shifting shelf space and hiring to reflect diversity. “What’s important is for retailers to focus on the work, show progress, and not worry about the 15 percent.”
Asked if retailers, which change their offering each season, after achieving the 15 percent could see the progress slip, Grede said: “Once you see the benefits of running a truly diverse business, why would you go backward?”