January 20, 2022, 2:51

    Starbucks to nearly double spending with diverse suppliers by 2030

    Starbucks to nearly double spending with diverse suppliers by 2030

    NEW YORK, Jan 11 (Reuters) – Starbucks Corp will nearly double its spending with suppliers and vendors from underrepresented groups in North America by 2030 to $1.5 billion, it said on Tuesday.

    Dennis Brockman, Starbucks' chief global inclusion and diversity officer, said the company believes it can use the COVID-19-related global supply chain disruption to increase diversity.

    "This will give us an opportunity to seek out and search for more" Black, indigenous and people of color who are building businesses, he said. "Smaller companies… can take advantage of this current situation."

    Register now for FREE unlimited access to Reuters.comRegister

    The global coffee chain said it will update annually its progress on the spending.

    Starbucks and other major restaurant companies, including McDonald's Corp(MCD.N), have laid out new diversity goals amid a national reckoning over race prompted by the May 2020 murder of George Floyd, a Black man, by a Minneapolis police officer.

    Starbucks also said on Tuesday that it will spend 15% of its fiscal 2022 paid media budget with minority-owned media companies. The company declined to provide a dollar figure.

    Register now for FREE unlimited access to Reuters.comRegisterReporting by Hilary Russ; editing by Richard Pullin

    Sourse: reuters.com

    Related posts

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    We use cookies in order to give you the best possible experience on our website. By continuing to use this site, you agree to our use of cookies. You can find a detailed description in our Privacy Policy.
    Privacy Policy