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McDonald's Commits Roughly $3.5B To Boost Spending At Minority-Owned Suppliers

McDonald’s is setting new diversity goals with its largest suppliers. According to a report from Bloomberg, the world’s biggest restaurant chain by sales is making a pledge to diversify its supply chain by committing roughly 25 percent — or $3.5 billion — of the company’s annual domestic supply-chain spending to minority and women-owned suppliers by the year 2025. “Throughout my career, I have historically seen supplier diversity viewed as a social program grounded in doing ‘the right thing,'” Reggie Miller — Chief Diversity, Inclusion, & Equity Officer at McDonald’s — said in a statement. “Today, however, consumers have greater access to information about the brands they purchase from. They want to support brands they can trust.” “When we refreshed our global DEI strategy last year, we knew supplier diversity needed to be a central principle,” he continued. “We knew this was key to ensuring we generate innovative products and services, increase competition, and build economic...

Jul 23, 2021

Uncle Nearest Launches $50M Venture Fund To Invest In Minority-Owned Spirit Brands

Uncle Nearest Premium Whiskey , the fastest-growing and best-selling Black-owned spirit brand in all of U.S. history, has just announced a multi-million dollar initiative to give back to its fellow spirits brands. According to a press release, the award-winning whiskey brand has launched a $50 million venture fund designed specifically to invest in rapidly growing, minority-founded and owned spirit brands. The announcement was deliberately timed to commemorate the 100th anniversary of the destruction done to Black Wall Street in Tulsa, OK. “On June 1, 1921, an entire community of wealthy and successful African Americans was wiped out in a matter of hours. We are talking about 35 square blocks known as Black Wall Street,” Uncle Nearest founder/ CEO Fawn Weaver said in a statement. “As an African American, learning about that history broke my heart because we, as a people, were really onto something in Tulsa, Oklahoma. We were lifting one another up and creating wealth within our own...

Jun 2, 2021