Black-owned brands got a foot in the door through accelerator programs at big retailers like Target and Amazon. Now they worry the door might be closing.Black-owned brands have been able to enter the market through accelerator programs at major companies like Target and Amazon. However, with recent changes to these programs, there is concern that these opportunities may be closing.
Pernell Cezar, founder of BLK & Bold coffee company, was able to get his product on Target shelves after attending a Black History Month expo in 2020. This was just months before the killing of George Floyd and the subsequent protests for racial justice, which prompted major retailers to create programs to support small and Black-owned businesses.
In 2021, Amazon launched its Black Business Accelerator and Sephora refocused its existing program to support BIPOC founders. Target also started its Forward Founders program, with Mr. Cezar helping to develop a curriculum to educate emerging brands on how to enter major retailers.
However, on January 24th, Target announced that it was concluding its three-year diversity, equity, and inclusion goals and renaming its Supplier Diversity team to Supplier Engagement. The Forward Founders program also has a new banner stating that it is “evolving.” This has left Mr. Cezar and other suppliers unsure of what this means for their businesses, as Target did not communicate any changes to them before the announcement.
Mr. Cezar expressed disappointment and concern, stating that “trust isn’t built overnight.” It is unclear what impact these changes will have on current supplier relationships, as Target has not provided any further information. This leaves Black-owned brands wondering what their next steps should be.
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