Foot Locker details nearly $54 million investments in Black community

Foot Locker commemorated the start of National Black Business Month with the release of its second annual report detailing progress in its educational and opportunities efforts for the Black community globally.

In June 2020. the athletic footwear and apparel retailer launched its Leading Education & Economic Development (LEED) Initiative, a $200 million commitment to the Black community. Through year-end of fiscal 2021, Foot Locker has funded nearly $54 million in investments and partnerships, including expanding programming to uplift Black students and employees and “operationalizing” its approach to working with Black vendors, community non-profits, creators and professional service partners.

"Our commitment to the Black community goes beyond words and is part of how we do business," said Richard Johnson, chairman and CEO, Foot Locker. "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." 

The retailer’s investments since the initiative launched include:

• More than $17 million invested in Black-owned brands as Foot Locker offers consumers more options in its assortment mix. Black-owned brands including Pro Standard, Don C, Abeille Creations, Grady Baby Company & Apparel and Clan de Banlieue, among others, have been invited to join the Foot Locker ecosystem;
• $21 million committed to seven Black-led VC firms. Among the underlying portfolios, are companies that offer products, apps, and services that enhance the health, wealth, and wellbeing of the Black community and provide unique opportunities for growth;
• More than $10.8 million invested in partnerships with Black-owned vendors for key services and supplies that include marketing and public relations, information technology, general construction, architecture, site engineering, store fixtures, maintenance, meetings and events;
• Trained 160 creatives through the Designing with Sole initiative, a global intensive design program built in partnership with Pensole and New Balance;
• Awarded 25 community organizations between $20,000 and $100,000 each to provide programming that advances health, wealth, and upward mobility in under-invested communities; and
• Expanded support to UNCF, increasing scholarships to Black students.

Foot Locker’s internal investments include:

• Expanded internal scholarship program by adding 10 scholarship awards annually, which are dedicated to Black team members;
• Created a Bridge Internship program, which creates pathways to corporate office roles for store team members. Since 2021, the program has expanded globally and provided more than 70 team members with intern positions in corporate functions such as marketing, finance, information technology, merchandising, buying and customer experience;
• Launched a financial literacy program in partnership with the Society for Financial Education and Professional Development; inequities; and
• Continued support for the company's Employee Resource Group, B.U.I.L.D. (Blacks United in Leadership and Development, serving African American, Black, African, and Caribbean employees) to design and execute programming in service of amplifying and advocating for a more equitable and sustainable Black work experience, and access to more robust career development opportunities.

Foot Locker operates approximately 2,800 retail stores in 28 countries across North America, Europe, Asia, Australia, and New Zealand. The company’s brands include Foot Locker, Kids Foot Locker, Champs Sports, Eastbay, atmos, WSS and Sidestep.