Source: Foot Locker / Foot Locker Inc.
Foot Locker stores have been a staple in the Hip-Hop community for decades. While the brand stays keeping us laced with the hottest of footwear and sports attire, they’re also donating money to help the Black community get a step forward, too.
Last year Foot Locker, Inc. announced that it was donating $200 million to the Leading Education & Economic Development (LEED) as part of a five-year commitment to help the Black community in their education and economic development. Now Foot Locker is giving an update on their investment and provided information on how exactly the first $35 million was spent which included $10 million invested in Black-owned brands and creators and $3 million multi-city grant program to empower youth and invest in BIPOC communities.
Other ventures included investing in 6 Black-owned VC firms that are advancing diversity in how venture capital funds are allocated along with 45 new partnerships with Black brands and creators.
That’s what we talking about!
Take into account that this is only the first $35 million. There’s still $165 mil to be used in the next four years. Maybe they’ll use some of that money to improve their Foot Locker apps? Okay, that’s not important, but it is dope to see Foot Locker making moves to ensure better futures for many living in our BIPOC communities across the board.
You can read up more on the moves being made on their website and peep how Foot Locker is investing in the culture.
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