Saks makes big commitments to diversity, inclusion
Saks Fifth Avenue has released a “roadmap” that outlines its new goals to advance diversity, equity and inclusion across its workforce.
By 2023, the department store retailer plans to hire, advance and promote Black, Indigenous and people of color into 40% of roles at the manager level and above. It also plans to direct 60% of grants from its namesake philanthropic foundation to aid underserved communities and mobilize employees to assist through a new corporate volunteer program called Saks Serves.
“Over the last year, the intensifying conversation around equality and social justice has made it clear there is more work to be done to improve representation, including within the fashion industry,” stated Saks CEO Marc Metrick. “We’ve taken the time to listen and learn, so that our plans can have a meaningful and lasting impact for our customers, employees, partners and communities. Sharing this roadmap is a pivotal milestone in our efforts, and we remain committed to making Saks Fifth Avenue an inclusive experience for everyone.”
Also by 2023, the retailer plans on increasing total sales of Black-owned, Black-designed or Black-led brands by about $100 million through expanding its merchandise assortment and supporting emerging brands, including the establishment of the Saks Emerging Designer Program. The program, presented by Mastercard, will emphasize BIPOC talent, ensuring that each year half of the participants will be BIPOC-owned. Mastercard will provide participating brands access to its Digital Doors program, including exclusive resources and tools aimed to help small businesses further grow and digitally enhance their online presence.
Eight brands have been selected to participate in the first year of the program, which will include bootcamp, mentorship and entrepreneurial workshops. The brands will also receive grants to support their business operations:
"The development of this program furthers our commitment to not only increasing representation in our assortment, but also using our platform and industry resources to help emerging brands succeed,” said Tracy Margolies, chief merchandising officer, Saks. “At the same time, it directly supports our mission to help our customers express their identities through relevant and inspiring style."
As part of its commitment to grow sales among Black-owned, designed- and led- brands, Saks said it added 38 brands to its assortment.
Other diversity and inclusion initiatives include increasing diversity in the retailer’s marketing and committing to featuring models who represent diversity of ethnicity, age and/or size, comprising 50% of its annual editorial casting. Saks has also committed to educational opportunities available to employees, including fostering empathy and understanding.
"Over the last year, the intensifying conversation around equality and social justice has made it clear there is more work to be done to improve representation, including within the fashion industry,” said Marc Metrick, CEO, Saks. “We've taken the time to listen and learn, so that our plans can have a meaningful and lasting impact for our customers, employees, partners and communities. Sharing this roadmap is a pivotal milestone in our efforts and we remain committed to making Saks Fifth Avenue an inclusive experience for everyone."
Saks Fifth Avenue's diversity, equity and inclusion roadmap can be found in its entirety here.