Gap Inc. Joins the 15 Percent Pledge and Commits to Increasing Pipeline Programs by 15 Percent
February 01 2021 - 9:00AM
Business Wire
The 15 Percent Pledge and Gap Inc. announced today that Gap Inc.
is the latest in a series of major companies to commit to using
their financial power to create more equitable industries and
profit structures. Gap Inc. will be working in lock-step with the
Pledge to develop its own unique strategy for reaching the
company’s commitments, with additional updates to come over the
next few months.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20210201005150/en/
Gap Inc. Joins the 15 Percent Pledge.
Aurora James, Founder, 15 Percent Pledge (Photo: Business Wire)
“As we approach the one-year mark of a pandemic that has
decimated Black businesses and communities, it is crucial that
companies step up to create economic opportunities for Black people
at every level of the workforce,” said Aurora James, founder of
the 15 Percent Pledge. “Committing to the Pledge is not a
band-aid solution — it requires a comprehensive re-evaluation of
business as usual, and we are thrilled that Gap Inc. is partnering
with us to drive racial equity across retail.”
Gap Inc., the nation’s largest specialty apparel company and
collection of purpose-driven lifestyle brands including Old Navy,
Gap, Banana Republic, and Athleta, has joined the 15 Percent Pledge
as an advocacy partner, aligning with the Pledge’s mission of
creating a more equitable industry. Gap Inc. will increase their
pipeline programs by 15 percent to drive access and opportunity for
the Black community within the Gap Inc. family of brands starting
with early empowerment programs, including internship, externship,
apprenticeship, and training. Gap Inc. is proud to donate $200,000
to the organization to further support their mission. In February,
Gap Inc. will share the company’s progress to create for all, with
all.
“Driving lasting change takes time and maniacal focus, and we’re
invested for the long-term,” said Kisha Modica, Head of Equality
& Belonging, Gap Inc. “As we strive to enable a culture of
inclusion and belonging for all, we are excited to partner with the
15 Percent Pledge to accelerate our commitment to increase access
and opportunity for Black and Latinx communities.”
About 15 Percent Pledge
The 15 Percent Pledge is a 501c3 non-profit advocacy
organization urging major retailers to commit 15% of their
shelf-space to Black-owned businesses. It offers large corporations
accountability, support and consulting services with the goal of
advocating for and supporting Black-owned businesses. The 15
Percent Pledge seeks economic equality and prosperity for Black
future founders, Black students, and Black people in the workforce.
Launched in 2020 by Aurora James, the initiative was born from
seeing multiple acts of social injustice and police brutality in
the United States, with a lack of accountability for the systemic
issues at play. Businesses including Sephora, Rent the Runway, West
Elm, MedMen and now Vogue Magazine, have all committed to the 15
Percent Pledge. For more information, visit
www.15percentpledge.org
About Gap Inc.
Gap Inc., a collection of purpose-led, billion-dollar lifestyle
brands, is a leading global retailer offering clothing,
accessories, and personal care products for men, women, and
children under the Old Navy, Gap, Banana Republic, Athleta,
Intermix, and Janie and Jack brands. Fiscal year 2019 net sales
were $16.4 billion. Gap Inc. products are available for purchase
worldwide through company-operated stores, franchise stores, and
e-commerce sites. For more information, please visit
www.gapinc.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210201005150/en/
15 Percent Pledge: Kindeya Chiaro,
kindeya.chiaro@berlinrosen.com Jessinia Brooks,
jessinia.brooks@berlinrosen.com
Gap Inc.: Jessie Wong press@gap.com
Gap (NYSE:GPS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Gap (NYSE:GPS)
Historical Stock Chart
From Apr 2023 to Apr 2024