On the first day of National Black Business Month, athletic retailer Foot Locker Inc. released a statement detailing company efforts to support Black communities through educational and economic opportunities.

Through the fiscal year-end of 2021, Foot Locker said it "has funded nearly $54 million in investments and partnerships geared towards economic and educational opportunities in the Black community."

In June 2020, the New York-based company launched a $200 million initiative: Leading Education & Economic Development (LEED).

“Our commitment to the Black community goes beyond words and is part of how we do business,” Foot Locker Chairman and CEO Richard Johnson said in a statement.

“Through strategic investments, community partnerships, and opportunities that empower, we are taking actionable steps to drive meaningful and lasting change both within our organization and in the communities we serve," Johnson said.

The company committed $21 million to seven Black-led venture-capital firms, $17 million to Black-owned brands, and more than $10.8 million in partnerships with Black-owned vendors.

Foot Locker also started off 2022 by partnering with the Local Initiatives Support Corporation (LISC) to support under-recognized communities. The partnership offers $25,000-$100,000 grants for mentorship, career development, and civic engagement.

“In establishing this program, Foot Locker, Inc. has recognized the ongoing impact of systemic racism, prioritized the needs of teens and young adults, and committed capital to on-the-ground strategies that directly address the local challenges. We are grateful for their thoughtful engagement in these important issues,” LISC CEO Lisa Glover said in a statement in January.

RELATED STORIES